Stock Market Today: July 13, 2026 — Iran Tensions Spark Oil Spike, Tech Selloff

The Trading Day at a Glance — July 13, 2026

US stocks closed lower on Monday, July 13, 2026, as a fraying US-Iran ceasefire and a memory-chip rout out of South Korea sent traders out of growth stocks and into energy and defensives. The S&P 500 fell 59.9 points, or 0.79%, to close at 7,515.34. The Nasdaq Composite took the worst of it, dropping roughly 408 points, or 1.55%, to 25,873.18, dragged down by a broad semiconductor selloff. The Dow Jones Industrial Average held up best, shedding 138.37 points (-0.26%) to 52,498.64, cushioned by energy-heavy components as crude spiked. The Russell 2000 fell 24.64 points, or 0.80%, to 2,953.17. The dominant theme: geopolitical risk-off, not economic data, drove the tape — capital rotated out of tech and discretionary names and into energy, utilities, and staples.

VIX, Yields, Dollar, and Commodities

The CBOE Volatility Index (VIX) jumped 2.13 points, or 14.17%, to close at 17.16 as hedging demand picked up alongside the equity slide. The 10-year Treasury yield climbed roughly 4 basis points to 4.614%, while the 2-year yield rose about 6 basis points to 4.269% — a 16-month high — as reflation fears tied to the oil spike hit the front end of the curve; the 30-year yield added 3 basis points to 5.101%. The ICE US Dollar Index firmed to near 100.9 on the flight to safety and higher yields. WTI crude oil futures (CL=F) jumped roughly 3.6% to settle near $74.80 a barrel on fears of a disrupted Strait of Hormuz, with Brent crude posting an even sharper 8-10% gain intraday. Gold futures (GC=F) slipped about 0.8% to roughly $4,109 per ounce, as the sharp move higher in real yields outweighed safe-haven demand.

July 13, 2026 Sector Performance

Energy was the clear winner as oil spiked on supply-disruption fears, while technology and consumer discretionary led the downside as the chip-sector selloff spread from South Korea.

XLE led all 11 sectors, up 3.01% on the day and now up 28.6% year-to-date, as crude jumped on Middle East supply risk. XLK was the day's laggard, down 2.42%, as the South Korean chip rout spilled into US memory and AI-adjacent names — though the sector remains up 26.2% for the year. XLY also underperformed, down 1.02%, consistent with a broader rotation out of growth and into defensives (XLU, XLP, XLV) and financials (XLF).

July 13, 2026 Biggest Stock Movers

SNDK (SanDisk) -12%. SanDisk fell roughly 12% off a record high as memory-chip contagion from South Korea hit the stock. SK Hynix's Nasdaq debut selloff triggered an 8%+ plunge in Seoul that hit KOSPI circuit breakers, and Korea Investment & Securities cut its SK Hynix earnings forecast. The move came despite Goldman Sachs reiterating its buy rating and raising its SNDK price target from $1,200 to $2,200 — a rare divergence between analyst view and price action.

APP (AppLovin) -12%. AppLovin was the worst performer in the S&P 500 to start the week with no confirmed company-specific catalyst — no downgrade, no filing. It fell alongside a broad AI/semiconductor risk-off session that also hit NVDA (-3%), AVGO (-3%), and AMD (-4%). BofA tracking data also flagged a slowdown in AppLovin's ad-platform pixel adds (roughly 750 in June versus 950 in May).

SK Hynix -8% to -9% (US-listed). SK Hynix's US shares dropped 8-9% after Seoul trading saw a 15% plunge — the company's worst day on record — as traders took profits following Friday's Nasdaq debut pop of roughly 13%. Korea Investment & Securities cut its earnings forecast for the chipmaker, and the selloff dragged down MU (-5%), WDC (-6% to -7%), and STX (-6% to -7%).

SPCX (SpaceX) ~-4%. SpaceX shares hit a fresh post-IPO low near $145-149, extending a slide of more than 13% over the trailing week from its post-IPO high of roughly $225.60. The stock debuted at $135 on July 7. No single catalyst was identified for Monday's drop — the move looks like a momentum unwind rather than a news-driven event.

NIO +3%. NIO was one of the day's few gainers after Goldman Sachs upgraded the stock to Buy from Neutral.

What Moved the Stock Market July 13, 2026

The dominant driver was geopolitics: the fragile US-Iran ceasefire unraveled over the weekend, with the Trump administration announcing it would reinstate a blockade on Iranian shipping through the Strait of Hormuz along with a 20% cargo transit fee. Iran responded with retaliatory moves against US allies Kuwait, Jordan, and Qatar, and both sides claimed control of the Strait. The escalation sent oil sharply higher and pushed Treasury yields up on reflation fears, with the 2-year yield touching a 16-month high. There were no CPI, PPI, jobs, or GDP releases on the calendar Monday — the entire move was geopolitical and sector-rotation driven, compounded by the South Korea-led memory-chip selloff.

Earnings Watch: Q2 2026 Season Kicks Off Tuesday

Monday was a quiet day on the earnings front ahead of a heavily loaded Tuesday. No major companies reported July 13, but Q2 2026 earnings season officially opens July 14 with a full slate of money-center banks reporting before the open.

What to Watch Tomorrow — July 14, 2026

• June CPI, 8:30am ET — lands the same morning as big bank earnings, an unusually loaded "double print" day per several outlets.
• Big bank earnings before the open: JPM, GS, BAC, WFC, and C all report Q2 results, with options markets pricing implied one-day moves from 4.4% (JPM) to 6.0% (GS).
• Strait of Hormuz developments — any escalation or de-escalation in the US-Iran standoff will likely continue to whip oil prices and energy-sector performance.
• Semiconductor stabilization watch — traders will be looking for signs of a bottom in SNDK, MU, WDC, and STX after Monday's memory-chip rout.