The iShares Semiconductor ETF (SOXX) entered a 12-15% correction. This decline marks the fund's longest losing streak in over a decade.
The broader semiconductor index plunged 11.4% this week. This movement reflects a market reset following substantial gains driven by Artificial Intelligence enthusiasm.
Rising Treasury yields and higher borrowing costs triggered the sell-off. Investors fear these costs will stifle massive AI infrastructure spending.
The tech sector lost over $1 trillion in value during a single day. Investors now reassess risks and await Q3 earnings from key industry players for future guidance.