US chip stocks plunge 16% in longest losing streak since 2008

The Philadelphia Semiconductor Index fell for eight straight days as doubts about AI spending, debt, and inflation caught up with the year's hottest trade US chip stocks just had the kind of stretch that makes portfolio managers check their blood pressure. The Philadelphia Semiconductor Index, known on trading desks as the SOX, fell 16% over eight sessions. The slide began on October 6 and ran through mid-October 2026. It ended with a particularly ugly session around October 16-17, when the index dropped 3.83% to close at 11,137.29. On that final day, there was nowhere to hide. All 30 stocks in the index finished lower. Arm Holdings took one of the heavier hits, falling roughly 7%. Broadcom , Micron, AMD , Intel, Lam Research, and KLA each shed about 5%.

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