Markets Daily 13 July 2026: Tech and Semis Sold Off Hard, Energy Led the Charge, and Bonds Fell Across the Board
Summary
Cash (SGOV): +0.02% — the only asset in positive territory; flight to safety the clear read
S&P 500 (SPX): -0.79% to 7,515.34 — pulled back; defensives held whilst growth sold off
NASDAQ 100 (NDX): -1.88% to 29,264.10 — tech ran into resistance; semis led the decline
Russell 2000 (RUT): -0.83% to 2,953.17 — small caps gave back ground alongside large caps
Gold (GLD): -2.62% — found no safe-haven bid; precious metals dragged lower
Silver (SLV): -3.32% — worst performer among commodities; notable underperformance
Bitcoin (IBIT): -2.79% — risk-off across alternatives; crypto sold in unison with growth assets
US Treasuries (GOVT): -0.29% — bonds fell alongside equities; no flight-to-quality signal
Energy (XLE/XOP): +3.01% / +4.17% — the single bright spot; oil and gas led the charge
Asset Classes
Cross-Asset Daily Returns
Here is the breakdown. Cash topped the leaderboard at +0.02%. Everything else finished in the red. The ranking from worst to best: Silver (-3.32%), Bitcoin (-2.79%), Gold (-2.62%), NASDAQ 100 (-1.88%), Russell 2000 (-0.83%), S&P 500 (-0.79%), Treasuries (-0.29%), Cash (+0.02%). This is unambiguously risk-off. What jumps out immediately is that neither bonds nor gold provided shelter — both fell alongside equities. That is a stagflation-adjacent signal worth watching.
Performance by Asset Class
Cash was the sole winner. Fixed income posted -0.29% (GOVT), with selling across all durations. Equities fell in a tight pack: S&P 500 -0.79%, Russell 2000 -0.83%, NASDAQ 100 -1.88%. Commodities were the weakest asset class on the day — gold -2.62%, silver -3.32%. Alternatives offered no refuge either; Bitcoin dropped -2.79%. No asset class delivered a meaningful positive return. A clean risk-off sweep.
World Indices
Performance by Region
North America sold off broadly. NASDAQ 100 led losses at -1.88%, dragging the S&P 500 (-0.79%) and Russell 2000 (-0.83%) lower. The Dow (-0.26%) and NYSE Composite (-0.12%) held up relatively better — a large-cap defensive tilt. Canada’s TSX barely moved at -0.15%. Europe was the standout contrast: all five major indices closed in green, led by CAC 40 (+0.31%) and DAX (+0.19%). China was split — Shanghai Composite dropped -2.06% whilst the Hang Seng edged +0.16%. India’s Nifty IT surged +3.59%, the single strongest index on the day globally.
Asia Pacific, Volatility and Yields
Asia Pacific told a dramatic story. The KOSPI cratered -8.95% — an extraordinary single-session move. The Nikkei fell -1.92%. The ASX 200 was essentially flat at +0.03%. The VIX spiked +14.17% to 17.16 — a sharp jump that confirms the risk-off tone. VXN rose +9.68% to 27.30. US Treasury yields climbed across the curve: the 5-year yield rose +1.28% to 4.36, the 10-year gained +0.88% to 4.61, and the 30-year added +0.53% to 5.10. Rising yields alongside falling equities — pressure on both fronts.
Global Daily Bar Chart
The KOSPI at -8.95% was by far the worst performer globally on the day. That scale of single-session decline signals either a major macro shock or forced deleveraging specific to Korean markets — a yellow flag worth monitoring closely. At the other end, India’s Nifty IT at +3.59% led the charge, signalling a divergent theme: technology outperformance in Indian markets even as US tech sold off hard. Two very different stories, same session.
Rates & Treasuries
Bond ETF Daily Returns
Not a single bond ETF finished positive — all 15 closed in the red. Government bonds led the selling. GOVZ (25+ year STRIPS) was the worst performer at -0.87%, followed by TLT (-0.59%) and TLH (-0.53%). IEF fell -0.36%, IEI -0.27%. At the shorter end, AGZ (Agency) held up best at just -0.08% and SHY dropped -0.11%. High yield credit saw modest declines — HYG -0.24%, SHYG -0.14% — outperforming government paper on a relative basis. Duration was punished hardest.
Returns Chart
The bar chart tells a clear story: government bonds underperformed high yield on the day. That is counterintuitive in a risk-off session. Normally high yield credit spreads widen as investors flee to government paper. Today the reverse held — high yield held up better than long-duration Treasuries. Rising yields drove price losses in government bonds whilst credit spreads remained contained. Risk appetite in credit markets did not fully capitulate, even as equities and volatility painted a different picture.
Yield Curve
The regime is a Bear Flattener. The 2s10s spread sits at +0.35% and the 5s30s at +0.76% — a mildly upward-sloping curve. The 10-year yield stands at 4.56% (up +7bp over one week) and the 30-year at 5.06% (up +8bp). The belly of the curve — 5-year at 4.30% — rose +7bp over the week. Short-end yields also ticked higher: the 1-year added +10bp to 4.06%. Yields are rising uniformly across tenors. The line in the sand: if the 10-year pushes decisively above 4.75%, pressure on equity valuations intensifies.
ETF Sectors
SPDR Sectors
Energy (XLE) led the charge, gaining +3.01% on the day. That was the sole meaningful winner. The defensive rotation was clear: Utilities (XLU +0.68%), Financials (XLF +0.65%), Real Estate (XLRE +0.56%), Consumer Staples (XLP +0.56%), and Healthcare (XLV +0.35%) all closed positive. Growth sectors bore the brunt — Technology (XLK -2.42%) was the worst performer, followed by Consumer Discretionary (XLY -1.02%) and Industrials (XLI -0.85%). The rotation from growth to defensive was decisive and synchronised.
Tech Thematic
Semiconductors were hammered. SOXX fell -4.77% and SMH dropped -4.16% — a brutal session for the chip complex. Cybersecurity held up remarkably: HACK gained +0.28% and CIBR was essentially flat at -0.04%. Cloud computing bucked the trend — WCLD rose +2.16%, an interesting outperformer. Software (IGV) edged up +0.31%. The divergence within tech is notable: hardware and semis sold off hard whilst software and cloud found buyers. A rotation within the theme, not a blanket exit.
ARK Innovation
The ARK suite fell across the board. ARKQ (Autonomous Technology) was the worst performer at -2.65%, followed by ARKK (-2.50%) and ARKX (-2.34%). ARKG dropped -1.77% and ARKW -1.64%. ARKF (Fintech) held up best at -0.74%. No ARK fund closed positive. The losses are consistent with the broader growth selloff — high-beta, long-duration innovation names take the hardest hits when rates rise and risk appetite retreats.
Healthcare & Defence
Both sectors fell. On the biotech side, XBI dropped -2.32% and IBB -1.31% — a notable underperformance relative to the broader healthcare sector (XLV +0.35%). Defence was similarly hit: XAR slid -2.68% and ITA -1.68%. The defence sell-off is a yellow flag given the strong YTD performance of both ETFs — profit-taking after strong runs, or something more structural? We will watch closely. The gap between broader healthcare holding up and biotech selling off suggests stock-specific rather than sector-wide pressure.
Consumer, Finance & Specialty
XOP (Oil & Gas E&P) surged +4.17% — the strongest single ETF in this group by a wide margin, consistent with energy’s day of leadership. KRE (Regional Banking) eked out +0.13% and IYG (Financial Services) added +0.41%. On the losing side, XHB (Homebuilders) fell -1.42% — rising yields are a direct headwind for that sector. XRT (Retail) -0.69% and FINX (Fintech) -0.61% also declined. IYT (Transportation) was essentially flat at -0.09%. Energy dominated; rate-sensitive names struggled.
Stock Screener
S&P 500 Top 20
The S&P 500 fell -0.79% on the day, but our screener surfaced a strong cohort of outperformers. FactSet (FDS) led at +6.47%, followed by Gartner (IT) at +6.06% and Intuit (INTU) at +5.38%. Energy names dominated the list — Valero (VLO +5.38%), Phillips 66 (PSX +5.27%), Marathon Petroleum (MPC +4.63%), Diamondback Energy (FANG +4.48%), and ExxonMobil (XOM +4.05%) all featured prominently. Technology names including Salesforce (CRM +4.84%) and Workday (WDAY +4.26%) also appeared, a reminder that stock-picking within tech still rewarded on this session.
Russell 2000 Top 20
The Russell 2000 fell -0.83% as a benchmark, but our top-ranked names delivered outsized gains. Actuate Therapeutics (ACTU) surged +23.97%, leading the pack. Kosmos Energy (KOS +16.19%) and Vivid Seats (SEAT +14.90%) followed. Healthcare names — ARAY (+12.85%), SI (+11.01%), CNMD (+10.21%), PSNL (+6.89%) — dominated the top of the list. Energy was the second-strongest theme, with SOC (+13.01%), NOG (+9.94%), PBF (+8.01%), PARR (+7.81%), and SM (+7.48%) all featuring. A clear two-sector story: healthcare and energy carried the small-cap outperformers.
52-Week New Highs
S&P 500
Eighteen S&P 500 names hit 52-week highs on Monday. Industrials led with five names, followed by Financial Services and Energy with four each. Utilities and Technology each contributed one. Notable names reaching new highs include Apple (AAPL), Marathon Petroleum (MPC), Valero (VLO), Grainger (GWW), Targa Resources (TRGP), Aflac (AFL), CSX, and Expeditors International (EXPD). Energy names hitting new highs on a strong day for the sector is a confirmatory signal. Eighteen new highs whilst the index fell -0.79% reflects pockets of genuine leadership beneath the surface.
Russell 2000
Fifty-three Russell 2000 names posted 52-week highs — a healthy breadth reading for the small-cap index even as the benchmark pulled back. Healthcare and Financials tied for the lead with eleven names each, followed by Consumer Discretionary (seven), Energy (six), and Industrials (four). Notable names include Personalis (PSNL), Fate Therapeutics (FATE), Dave Inc (DAVE), TXG, AOUT, CLMT, FTK, RGCO, PNTG, and Bassett Furniture (BSET). The breadth of new highs across small caps — particularly in healthcare and financials — is an encouraging signal that the Russell’s underlying leadership remains intact.
FTSE 250
Seven FTSE 250 names reached 52-week highs. Sectors represented include Financial Services (two names) alongside Consumer Cyclical, Industrials, and Food Producers. Names hitting new highs include Watches of Switzerland (WOSG.L), Tharisa (THRL.L), Hill & Smith (HILS.L), TP ICAP (TCAP.L), Supermarket Income REIT (SUPR.L), Apax Global Alpha (APN.L), and Funding Circle Holdings (FCH.L). A modest but steady list — Europe’s relative strength today was reflected in continued breadth at the individual stock level.
FTSE 100
Just one FTSE 100 name posted a 52-week high on the day: SDLF.L in the Life Insurance sector. A single new high from the blue-chip index is a thin reading. Whilst Europe held up better than the US on an index basis today, the FTSE 100’s new high count suggests the breadth within the index remains constrained. One to watch — we want to see this number expand before drawing bullish conclusions on UK large caps.
Markets
SPX — S&P 500
NDX — Nasdaq 100
GC1! — Gold Futures
DX1! — US Dollar
EURUSD — EUR/USD
BTCUSD — Bitcoin
Disclaimer
This publication is produced for educational and informational purposes only. Nothing in this article, including the written commentary, charts, images, data, and any internal or external links are for educational and information purposes only.