Semiconductor Index Tumbles 19% From June High, Led by Micron's 30% Plunge
SOX has more than doubled off its 52-week low of $5,418.316.
Summary
The PHLX Semiconductor Index has fallen 19% from its June peak, deepening a sector-wide rout. Micron Technology is down 30% from its all-time high, leading losses among AI-heavy components like Nvidia and Broadcom. This extends a pattern of sharp swings seen in recent weeks, including an 8% single-day drop on June 23. The selloff reflects mounting pressure on AI-driven chip stocks after explosive rallies earlier this year. Traders are reassessing valuations as the index approaches correction territory.
At the time of this announcement, SOX was trading at $11,867.50 on NASDAQ in the Technology sector. The 52-week trading range was $5,418.32 to $14,655.29. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.