"That said, we believe the sell-off today is largely a knee-jerk reaction and overdone," Yu added.
Swissquote senior analyst Ipek Ozkardeskaya noted immediate reactions in derivative markets following the Nvidia funding reports. "The market reaction to the Nvidia news was swift.
Nvidia fell 5% and closed the session below the $200-per-share mark.
More importantly, Nvidia's five-year CDS spiked, suggesting that it may not yet be the right time to buy the dip," Ozkardeskaya said.
Major technology companies including Microsoft, Meta, Apple, Amazon, and SK Hynix are scheduled to release their latest quarterly earnings reports later in the week.
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Global tech shares tumbled on July 28, 2026, driven by a sharp sell-off in South Korean chipmakers amid growing AI spending and competition concerns.
