SOX Slides for Seventh Straight Session, Down 21% From June Peak
SOX sits 88% above its 52-week low of $6,160.045.
Summary
The PHLX Semiconductor Index fell for a seventh consecutive session, ending Thursday at 11,581 — about 21% below its June 22 record close, though still up nearly 64% year-to-date. The streak is the longest since May 2025 and the worst run since October 2008's eight-day slide. Rising bond yields, renewed Fed rate-hike worries, and reports of Chinese memory-chip maker CXMT advancing on a new memory-cell architecture are driving the selling. The 9-day RSI hit 27.4, its lowest since late July, putting the index in oversold territory and raising the odds of a near-term bounce. First resistance sits near the 50-day moving average around 12,081; support stacks at the September lows of 11,110-11,056, with trend-line support near 10,760 and the 200-day moving average near 10,581.
At the time of this announcement, SOX was trading at $11,581.22 on NASDAQ in the Technology sector. The 52-week trading range was $6,160.04 to $14,655.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.