Chip sector extends losing streak: SOX -2.3% Monday, fourth straight decline and -7% streak (Oct 12)
What happened
The chip sector sold off broadly on Monday in what MarketWatch described as a fourth straight decline and its lowest close since Sept 18, with all 30 PHLX Semiconductor Index components losing ground and the SOX shedding 2.3%. Nvidia fell 1.7% to about $226, extending a pullback to roughly 5.8% since its $239.24 record close on Oct 6. The damage was heaviest in memory and photonics: Micron and Marvell were down more than 4%, Sandisk fell 6%, and Lumentum and Coherent were among the biggest S&P 500 decliners. The S&P 500 Information Technology sector was the index's worst performer, down about 1%, even as the broader market held mixed.
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Start your free 14-day trialWho’s affected
- PHLX Semiconductor Index (SOX): -2.3% Monday, heading for lowest close since Sept 18; -7% across four straight down days
- NVDA (Nvidia): -1.7% to ~$226, down ~5.8% from the $239.24 record close Oct 6; falling for a fourth straight session
- MU (Micron), MRVL (Marvell): down more than 4%
- SNDK (Sandisk): -6%; LITE (Lumentum), COHR (Coherent): down 7%+ — photonics and memory lead losers
- AMD, INTC, AMAT, LRCX, KLAC, AVGO, QCOM, ARM, STX: all down 1-3%+
- Roundhill DRAM ETF: -4.5%; iShares Semiconductor ETF (SOXX): -2.5%
- S&P 500 Information Technology sector: worst-performing sector, -1%