Oct 15 (Reuters) – US semiconductor stocks were set to lose $2 trillion in market value on Thursday in the steep selloff since last week, driven by rising bets of an interest-rate hike and concerns over the cost of the AI buildout. The Philadelphia SE Semiconductor index was last down 3.3%, adding to a $1.64 […]
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US chip stocks set to wipe out $2 trillion after latest selloff
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Oct 15 (Reuters) – US semiconductor stocks were set to lose $2 trillion in market value on Thursday in the steep selloff since last week, driven by rising bets of an interest-rate hike and concerns over the cost of the AI buildout.
The Philadelphia SE Semiconductor index was last down 3.3%, adding to a $1.64 trillion wipeout over the past six sessions.
(Reporting by Shashwat Chauhan and Medha Singh in Bengaluru; Editing by Arun Koyyur)