PHLX SEMICONDUCTOR INDEX RISES 1.6 %, STILL 14.4 % BELOW OCT . 6 CLOSE

What happened: The PHLX Semiconductor Index rose 1.6% on Oct. 19 after an eight-session decline, but stayed 14.4% below its Oct. 6 close. Key numbers: Oct. 19 gain 1.6%. 14.4% below Oct. 6 close. S&P 500 fell 1.6% over the same period. Nasdaq closed at 13,217.82 on Oct. 6 and 11,137.29 on Oct. Why it matters: Reuters reported the eight-session losing run was the index's longest since October 2008. The IMF warned in its October report that AI-related assets could face a correction if investment or profits disappoint, with leverage and concentrated holdings possibly amplifying it.

The PHLX Semiconductor Index rose 1.6% on Oct. 19 after an eight-session decline, but stayed 14.4% below its Oct. 6 close.

Reuters reported the eight-session losing run was the index's longest since October 2008. The IMF warned in its October report that AI-related assets could face a correction if investment or profits disappoint, with leverage and concentrated holdings possibly amplifying it.