Chip stocks test make-or-break level after $2 trillion sell-off

Price Action Impact 4
โดย Yahoo Finance·Read original
Summary · why it matters

Chip stocks are testing a critical support level after a $2 trillion sell-off pushed the PHLX Semiconductor Index back to the 12,000 area, a line that previously acted as resistance in May and was defended by buyers one month ago. The index needs to hold roughly 11,950 on a closing basis, while the iShares Semiconductor ETF must hold around 535 to avoid a potential drop toward 11,000. Since the June 22 peak, Yahoo Finance's semiconductor basket has lost about $2.1 trillion in market value, with a median decline of 21%, and the Roundhill Memory ETF has already entered bear market territory. Memory stocks remain under pressure, with Samsung down more than 25% from its peak and SK Hynix down 30%, though SK Hynix's planned $28 billion Nasdaq debut on Friday is reportedly strongly oversubscribed, signaling institutional appetite.

Impact on stocks 2

Semiconductors▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
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