US chip stocks set to wipe out $2 trillion after latest selloff
SOXX•US semiconductor stocks were set to lose $2 trillion in market value on Thursday as the Philadelphia SE Semiconductor index fell 3.3%, adding to a $1.64 trillion loss over six sessions.
1. Selloff deepens
US semiconductor stocks were set to lose $2 trillion in market value on Thursday, as rising bets of an interest-rate hike and concerns over the cost of the AI buildout drove a steep selloff. The Philadelphia SE Semiconductor index was down 3.3%, after losing $1.64 trillion over the past six sessions.
