Chip stocks are on pace to erase $1 trillion as AI selloff deepens

What happened: The Philadelphia Semiconductor Index fell close to 10% over six sessions as an AI-related selloff deepened. Arm, Applied Materials and Intel were among the losers. Key numbers: Index down close to 10% over six sessions. Chip stocks on pace to erase $1 trillion. Why it matters: The decline marks a sharp pullback in semiconductor shares, with the selloff tied to AI trade sentiment and losses spreading across major chip names.

The Philadelphia Semiconductor Index fell close to 10% over six sessions as an AI-related selloff deepened. Arm, Applied Materials and Intel were among the losers.

The decline marks a sharp pullback in semiconductor shares, with the selloff tied to AI trade sentiment and losses spreading across major chip names.