Semiconductor and AI rout, partial rebound
After the SOX's worst day since March 2020 (-12.2%), chips are bouncing about 4%. Asian authorities are intervening, and traders disagree on whether the bounce holds.
What we know
An account on X reports the SOX up about 4.3% after the 12.2% plunge, with IREN +20% and AMD +10%. Another account on X warns that another flush often comes first. Another account on X says Taiwan curbs shorts and readies a $15B fund while Seoul waives margin calls. Another account on X notes record leveraged ETF inflows going into the decline. T. Rowe's Page, calls the selloff positioning-driven with Nvidia at 12.6x earnings. Another account on X argues tech has weathered past shocks.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.