Philadelphia Semiconductor Index Faces More Than $2 Trillion in Losses Over Seven Sessions

The Philadelphia Semiconductor Index was on course as of Oct. 15 to shed more than $2 trillion in market value across a seven-session stretch, a slide that may signal broader risk aversion relevant to crypto markets. The projected loss would exceed the roughly $1.3 trillion erased from chip stocks in one session on June 6. The index fell 10.3% that day, its largest one-day drop since March 2020. The earlier plunge was tied to concern that demand for Broadcom’s custom AI chips was falling short of high expectations. The index entered a bear market on July 18 after falling more than 20% from its June 22 closing high, then reached a more-than-one-month high on Sept. 21.

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