US Chip Stocks Extend Selloff as SOX Falls 3.3%
The Philadelphia Semiconductor Index was last down 3.3% on Thursday, adding to losses since last week. The report cited rising rate-hike bets and concerns over AI buildout costs.
US semiconductor stocks were on course to shed $2 trillion in market value on Thursday, extending their sharp selloff since last week. Rising expectations of an interest-rate hike and concerns about the cost of AI investment were cited as drivers. The Philadelphia SE Semiconductor Index (NASDAQ:SOX) was last down 3.3%, adding to a $1.6