S&P 500 heads for the first July decline since 2014. Here are the stocks that led the selloff.

The article says the S&P 500 is heading for its first July decline since 2014 after a volatile month marked by a sharp split between major tech earnings. Microsoft’s strong report contrasted with Apple’s weak results, helping trigger a broader selloff in semiconductor and growth stocks. The key market signal is stress in the chip sector: the iShares Semiconductor ETF (SOXX) was down 20.7% for July despite a strong late-month rebound, which would make it its worst monthly decline since December 2002 if it holds. The article frames the move as part of a difficult July for equities, with tech leadership weakening and volatility rising even though the S&P 500 remained up for 2026. The selloff highlights how concentrated gains in big tech can quickly reverse and pressure the broader index.