local
The year’s hottest rally is losing steam. Investors are asking what comes next
By CNN Newsource at KVIA ABC-7
· July 9, 2026
· 4 min read
By John Towfighi, CNN
New York (CNN) — The stocks that have fueled Wall Street’s powerful AI rally are suddenly under pressure as investors evaluate rising tensions in the Middle East, take profits after a historic run and reassess where to find value.
After months of hitting record highs, se...
Key takeaway The S&P 500 and Nasdaq Composite are down almost 2% and 5%, respectively, since their record highs on June 2.
Why this matters in The El Paso
El Paso 's economy, with its strong ties to the technology and manufacturing sectors, is closely watching the developments in the semiconductor industry. The city's business community is invested in the success of chipmakers, as their fortunes can have a ripple effect on local companies that supply or partner with these firms. As the AI rally loses steam, El Paso's entrepreneurs and investors are likely reassessing their own strategies for growth and investment. The city's transportation infrastructure, which plays a critical role in the movement of goods and supplies, may also feel the impact of a slowdown in the semiconductor industry. With the US-Mexico border a key conduit for trade, any fluctuations in the global tech market can have significant implications for El Paso's economic outlook. As the city navigates these changes, local leaders will be focused on diversifying the economy and identifying new opportunities for growth and development.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 9, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 4 min
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Frequently asked about this story
What is this story about? By John Towfighi, CNN
New York (CNN) — The stocks that have fueled Wall Street’s powerful AI rally are suddenly under pressure as investors evaluate rising tensions in the Middle East, take profits after a historic run and reassess where to find value.
After months of hitting record highs, se...
When was this published? This article was first published on July 9, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The El Paso, or browse our daily briefing and topic hubs .
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