Key takeaways
- The drop hastened the iShares Semiconductor ETF's slide into a bear market.
- The second-largest exchange-traded fund (ETF) in the semiconductor category slid 12.1% on Thursday, notching its worst intraday decline since March 2020.
- For example, Qualcomm (QCOM), the fund's eighth-largest holding, tumbled on Thursday after reporting a 26% decline in fiscal fourth-quarter smartphone chip sales.
A variety of headwinds, some political, are weighing on chip stocks. Election results make for an easy scapegoat, but there are also some stock-specific issues hindering this ETF.
See the latest quote, chart and news for SOXX.
