00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Chipmakers suffered their worst trading session since the COVID-19 crash on Thursday,
00:07as a massive sell-off swept across the semiconductor industry, according to Benzinga.
00:12The Philadelphia Semiconductor Index plunged 12.3%, its worst day since March 2020.
00:20Of the 30 stocks in the SOXX fund, 28 are now in a bear market,
00:25trading at least 20% below their record highs.
00:28Half have lost more than 50% of their value.
00:32AMD, NVIDIA, Broadcom, and Micron account for about a third of the SOXX fund,
00:38and all four are in a bear market.
00:40The sell-off began after disappointing earnings reports from Qualcomm and Arm Holdings.
00:46Analysts also pointed to concerns that a Democratic Congress could make new data centers harder to build.
00:51The NASDAQ 100 fell 6.4%, its worst session since March 2020.
00:57For all things money, visit Benzinga.com.
