SOXX is trading at $517.35 (-1.54%) as initial AI optimism fades after semiconductor stocks surged on August 27 following NVIDIA’s $96.2 billion quarterly revenue and roughly 70% growth outlook.
- Marvell weakness and declines across several chip names are weighing on the group.
- Broader markets are nearly flat, indicating a sector-specific retreat rather than a broad-market selloff.
- Investors are cautious ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks, which could influence rate expectations for technology stocks.