S&P 500 slips 1.8 points as chip selloff persists

Published on 10/13/2026 at 22:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The S&P 500 ended at 7,805.45 on October 13 as chip losses offset mixed bank earnings; September CPI is due at 8:30 a.m. ET Wednesday.

Inflation and earnings ahead

The S&P 500 closed at 7,805.45 points on October 13, down 1.79 points or 0.02 percent.
Chip selling pressured the index as Applied Materials fell 8.0 percent.
Applied Materials led declines at 8.0 percent, while Goldman Sachs gained 0.2 percent.
US September CPI is due October 14 at 8:30 a.m. ET, with a 3.6 percent annual consensus.

Bauhaus-inspiriertes Poster mit geometrischen Formen und Finanz-Schriftzügen — S&P Global Inc. (ISIN US78378X1072): geometrisches Bauhaus-Poster mit Finanz- und Datensymbolen in Blau und Gelb, Illustration mit AI erstellt.

The S&P 500 closed at 7,805.45 points on October 13, down 1.79 points or 0.02 percent, according to WTOP. Chip stocks extended their losses as investors assessed Chinese competition and mixed bank earnings.

Applied Materials fell 8.0 percent, while Goldman Sachs gained 0.2 percent. Citigroup dropped 4.1 percent and Wells Fargo lost 2.2 percent as investors parsed quarterly results, Reuters reported.

Why did chip losses outweigh bank earnings?

The Philadelphia Semiconductor Index fell 1.2 percent for a fifth straight session. Micron Technology lost 5.4 percent and Applied Materials fell 8.0 percent as reports of progress by Chinese memory maker CXMT raised competition concerns, Reuters said.

Bank results provided mixed support. Goldman Sachs rose after topping profit estimates, while Citigroup and Wells Fargo fell despite quarterly results that included stronger and weaker elements, respectively. Declining S&P 500 stocks outnumbered rising stocks by 1.1 to 1.

S&P 500 movers show a sharp sector split

Technology weakness contrasted with gains elsewhere in the market. Applied Materials was the largest named decliner, while Goldman Sachs was a notable gainer. The stock moves came as investors weighed artificial-intelligence valuations, chip demand and the start of third-quarter earnings season, Investopedia reported.

What comes next for the S&P 500

October 14, 2026, 8:30 a.m. ET: September Consumer Price Index data are due; consensus is 3.6 percent year over year and 0.6 percent month over month, Investing.com reports.
October 14, 2026, before the open: Bank of America, Morgan Stanley and BlackRock are scheduled to release quarterly results, 247WallSt reports.
October 14, 2026, 2:00 p.m. ET: The Federal Reserve is scheduled to publish its Beige Book, Black Executive Brief reports.

More market reports and analysis on the S&P 500