Stocks drop on tech sell-off, oil yo-yos on Mideast

A trader works on the floor of the New York Stock Exchange (NYSE) in New York on Jul 14, 2026. (Photo: AFP/Timothy A. Clary) 17 Jul 2026 05:38AM (Updated: 17 Jul 2026 05:44AM) NEW YORK: Major stock markets mostly retreated Thursday (Jul 16) as semiconductor shares extended falls, while oil prices wobbled as the United States and Iran exchanged fresh strikes.Tech-driven losses in Asia came before European and US markets mostly traded lower."Fragile sentiment is leading to a continued pullback in memory chip stocks after their gravity-defying run as investors fret about elevated valuations," noted Dan Coatsworth, head of markets at AJ Bell trading group.Leading Wall Street equity indices pulled back, led by the tech-rich Nasdaq, which lost 1.5 per cent.Seoul's Kospi fell more than six per ce