How your winning stock-index fund can turn on a dime

The iShares Semiconductor ETF (SOXX) has plummeted 19% in July 2026 despite being up 73% year-to-date, with 14 of its 30 holdings down 20% or more for the month. Only Nvidia was among the top 30 semiconductor stocks to post a July gain, while memory chip names like Sandisk (-40.4%), SK Hynix (-30.5%), and Micron (-26.5%) also suffered steep declines.

Why it matters: The article also covers IBM's 23% single-day drop after an early earnings report citing a revenue shortfall, SpaceX's stock trading 8% below its IPO price, and broader concerns about AI bubble risks and rising Treasury yields.