SOXX is trading 1.9% down today, extending a sharp multi-day slide as the semiconductor sector reacts to reports of advanced chipmaking breakthroughs in China.
- Sentiment is under pressure following reports that a Chinese state-backed firm has achieved mass production of advanced chipmaking equipment, intensifying global competitive and oversupply fears.
- The sell-off follows a volatile overnight session in Asian markets that has spilled over into major U.S. semiconductor names, weighing heavily on the broader sector.