LIVEMarkets rolling coverageStarted: August 2, 2026, 4:00 AM EDTUpdated: August 2, 2026, 5:25 AM EDT AI Chip Sector Turmoil Drives Wild Swings in Stock Markets August 2, 2026, 5:21 AM EDT. The stock market experienced sharp swings last week as CXMT, a Chinese chip producer, jumped 466% on its Shanghai debut, triggering a global sell-off in AI-related chip stocks. Key benchmarks, including South Korea’s Kospi, dropped more than 17% in two sessions amid steep losses for SK Hynix and Samsung Electronics. Nasdaq fell into correction, with Nvidia slipping over 5% and losing ground to Apple. Earnings reports from Amazon and