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Semiconductor index falls for 8 consecutive sessions, longest since October 2008

Barrons.com +3 ·

NVDA NVIDIA Corp
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  1. 1The PHLX Semiconductor Index fell for 8 consecutive trading days from October 7 to 16, the longest streak based on closing prices since October 2008
  2. 2The index fell approximately 16% during this period, while NVIDIA (NVDA) fell approximately 10% from a record closing price of $239.24 to $214.13
  3. 3Interest rate hikes, AI business funding, and competition concerns pressured chip stocks overall, and the index rebounded approximately 1.6% on Monday

So what's the key point?

Semiconductor stocks fell for 8 consecutive days, marking the longest decline since 2008. NVIDIA also fell approximately 10%, and the index recovered slightly on Monday.

Source Barrons.com +3 · View original ↗

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