Semiconductors Fall 12.25% in the Worst Session Since 2020
The Philadelphia Semiconductor Index fell 12.25% at the close on 5 November, its largest one-day drop since March 2020, with the Nasdaq down 5.52% and the S&P 500 off 4.36%. AMD lost 17.3%, SanDisk 22.3%, TSMC 11% and Nvidia 9.3%, the VIX jumped 69% to 28.15, and roughly $2.5 trillion of technology market value disappeared in a session. The detail that reframes it: Google committed $17 billion to a new campus the same day, so this is a divergence inside the AI trade rather than a verdict on it.
