Dow +160 pts (+0.3%) to ~52,800 while the Nasdaq shed 0.9% and the S&P 500 slipped 0.2% — the blue-chip index survived because it barely owns any of the semiconductors that got wrecked today.
Money Moves
TSMC triggered a chip rout — beat Q2 earnings but raised capex guidance to $60-64B from $52-56B, and the market sold first, asked questions later. Arm Holdings fell -7%, AMD dropped -4%, Broadcom lost -3%, SK Hynix cratered...
