Markets Close: US Today

Dow Jones +700 points (+1.3%) to just shy of 52,900, roughly 450 points from its all-time high, as a brutal semiconductor sell-off rotates cash into classic Dow stocks.

Money Moves

• Chip Rout Deepens: The Philadelphia Semiconductor Index has shed over 20% in July, with South Korea's KOSPI tripping its 9th circuit breaker of the year overnight after falling nearly 11%.
• Tech Bleeds, Staples Feast: The tech sector sits at its **lowest...