SOX in bear territory as chip stocks lose $1 trillion
Semiconductor stocks have taken a huge hit, dropping more than $1 trillion in value after weeks of declines.
The main index tracking these chip companies (SOX) is now officially in bear territory.
The sell-off is mostly about investors getting nervous, some worry the AI boom might be a bubble, while others are watching signs of progress in China's advanced chipmaking capabilities.
NVIDIA Micron SK Hynix lead losses
Big players like NVIDIA, Micron, and SK Hynix are leading the losses as concerns grow about high valuations and tougher competition from China.
Still, the SOX index is up for the year thanks to strong demand for AI chips.
Meanwhile, Indian companies tied to data centers and power equipment are actually gaining ground, showing how different parts of the tech world are reacting to all this volatility.