Global semiconductor stocks are one bad session away from a bear market after a $3.3 trillion rout since June 22. The PHLX Semiconductor Index fell 4.3% Thursday, breaking below the neckline of a head-and-shoulders top and the key 12,000 level, leaving it less than 1% above the 11,708 mark that would confirm a 20% decline from its June high. The iShares Semiconductor ETF is slightly closer to that threshold. The breakdown has been broad, with memory stocks such as Micron, Samsung Electronics, and SK Hynix already in a bear market, while Nvidia has remained nearly flat over the period. A failure to reclaim 12,000 could send the index toward the next downside target of 11,000, nearly 7% below Thursday's close.
SK Hynix Inc
Micron Technology Inc
Samsung Electronics Co Ltd
NVIDIA Corporation