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Semiconductor index retreats after record high as chips lose momentum

The PHLX Semiconductor Index reached a late-June record before sliding nearly 20%.

Reported · Written up by our desk · Sectors

Semiconductor stocks are showing signs of weakening after a sharp pullback from recent highs, according to MarketWatch.

The outlet points to the PHLX Semiconductor Index, which climbed to a record high in late June and has since fallen nearly 20%.

MarketWatch frames the move as a potential shift away from the recent excitement around the chips trade, with the decline raising questions about whether the sector is entering a downturn.

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