● Chip Index Suffers Worst Day Since 2020

The Philadelphia Semiconductor Index sank more than 12% on Thursday, its sharpest one-day drop since March 2020, as fears that AI spending has outrun real demand swept global chip stocks. The Nasdaq 100 fell 6.4% in the same session, about half the chip gauge's loss. Samsung Electronics and SK Hynix each dropped more than 10% in early Friday trading in Seoul as the rout spread to Asia. The $SOXX semiconductor ETF felt the same pressure traders are now watching closely.