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Wall Street’s major averages declined this week after a continuous sell-off in semiconductor stocks rattled the markets, while tensions in the Middle East persisted.

Among the most prominent semiconductor decliners this week were Marvell Technology (MRVL) -20.2%; Western Digital (WDC) -19.9%; Seagate Technology (STX) -18.1%; and Super Micro Computer (SMCI) -13.8%.

In other news moving the markets, SpaceX (SPCX) declined 12.6%, falling lower than its IPO price; South Korea’s KOSPI Index declined almost 10% this week; and Chinese AI startup Moonshot debuted Kimi-K3 on Friday, provoking concerns among investors over it rivaling Anthropic's (ANTHRO) frontier Fable model.

Regarding geopolitics, President Donald Trump said the U.S. would no longer protect the Strait of Hormuz for free and that the U.S. should be paid to secure the oil-shipping route. He proposed a 20% Hormuz transit fee but later scrapped it, replacing it with trade and investment agreements from Gulf states.

Crude oil futures (CL1:COM) rose 15.5% this week to settle around $82.47, and Brent futures (CO1:COM) also rose 15.9% to $88.09 per barrel as of post-market Friday.

In economic news, the U.S. Consumer Price Index rose +3.5% year-over-year in June, less than the +3.8% expectation. Core CPI was flat on a monthly basis, compared with the +0.2% consensus and +0.2% in May. Meanwhile, the June U.S. Producer Price Index was -0.3% month-over-month vs. -0.1% consensus.

Retail sales growth pace slowed in June as gas prices retreated, while business inventories grew month-over-month in line with consensus. The University of Michigan Survey of Consumers also released data, showing a higher-than-consensus increase. Lastly, the U.S. one-year inflation swap rate fell below the Federal Reserve's 2% inflation target for the first time since September 2024.

For the week, the S&P (SP500) lost -1.6%, while the tech-heavy Nasdaq Composite (COMP:IND) dropped -2.9%, and the blue-chip Dow (DJI) declined -0.9%. Read a preview of next week's major events in Seeking Alpha's Catalyst Watch.

Trump Accounts launched on July 4, aimed at helping Americans born between 2025 and 2028 build long-term wealth. The money will be invested in low-cost index ETFs and children can access the funds when they turn 18. Corporate America has backed the scheme, pledging to match the federal $1,000 seed investment per account. But is the program the best investment option for kids? Read more.

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U.S. Indices
Dow -0.9% to 52,146. S&P 500 -1.6% to 7,458. Nasdaq -2.9% to 25,520. Russell 2000 -0.5% to 2,962. CBOE Volatility Index +24.9% to 18.77.

S&P 500 Sectors
Consumer Staples +1.4%. Utilities -0.5%. Financials +1%. Telecom -2.4%. Healthcare +0.1%. Industrials -1.4%. Information Technology -3.8%. Materials -1.4%. Energy +5%. Consumer Discretionary -1.3%. Real Estate +2.3%.

World Indices
London +1% to 10,600. France flat at 8,339. Germany -0.9% to 24,831. Japan -6.4% to 64,141. China -5.8% to 3,764. Hong Kong +1.6% to 24,562. India +0.8% to 78,151.

Commodities and Bonds
Crude Oil WTI +15.5% to $82.47/bbl. Gold -2.2% to $4,023/oz. Natural Gas -0.8% to 2.916. Ten-Year Bond Yield -0.2 bps to 4.545.

Forex and Cryptos
EUR/USD +0.22%. USD/JPY +0.43%. GBP/USD +0.36%. Bitcoin +0.3%. Litecoin +1.9%. Ethereum +3.3%. XRP -0.7%.

Top S&P 500 Gainers
PayPal Holdings (PYPL) +22%. Cintas (CTAS) +14%. Valero Energy (VLO) +11%. Marathon Petroleum (MPC) +10%. Palo Alto Networks (PANW) +10%.

Top S&P 500 Losers
Sandisk (SNDK) -29%. International Business Machines Corporation (IBM) -26%. Marvell Technology (MRVL) -20%. Corning (GLW) -19%. Ciena (CIEN) -19%.

Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.