This is just too abstract. Yesterday they were saying storage stocks were diverging, and today the whole sector got absolutely crushed.
SanDisk fell 22% in a single day, Micron dropped more than 17%, and SK Hynix more than 13%. The Philadelphia Semiconductor Index plunged 12% in one day, its worst since March 2020. The Nasdaq followed with a 5.5% drop, officially entering correction territory, while the S&P 500 also had its worst single day since April.
The AI rally had just gotten too hot. After the election, the outlook shifted, and expectations for data centers were reassessed. Chips took the first hit. On top of that, word got out that a $4.5 billion Micron plant in Taiwan had halted construction due to a labor dispute, making matters even worse.
The nonfarm payrolls report is due at 9:30 tonight, so I doubt anyone will be sleeping easy.
#美股 #Semiconductors
SanDisk fell 22% in a single day, Micron dropped more than 17%, and SK Hynix more than 13%. The Philadelphia Semiconductor Index plunged 12% in one day, its worst since March 2020. The Nasdaq followed with a 5.5% drop, officially entering correction territory, while the S&P 500 also had its worst single day since April.
The AI rally had just gotten too hot. After the election, the outlook shifted, and expectations for data centers were reassessed. Chips took the first hit. On top of that, word got out that a $4.5 billion Micron plant in Taiwan had halted construction due to a labor dispute, making matters even worse.
The nonfarm payrolls report is due at 9:30 tonight, so I doubt anyone will be sleeping easy.
#美股 #Semiconductors