S&P 500 on track for first July loss since 2022 as chip stocks suffer worst month in 24 years

The S&P 500 is on course for its first July decline in over a decade, capping a turbulent end to the month. Chip stocks bore the brunt of the selloff, suffering their worst monthly performance in 24 years. The losses came amid sharp intraday swings that rattled investors through the final sessions of the month.