Chip Stocks Just Had Their Second-Worst Day on Record
247wallst.com reports that on November 5, 2026 the PHLX Semiconductor Index fell 12.25% to 9,011.14, its biggest drop since the March 2020 COVID crash and the second-largest one-day decline on record, with the iShares Semiconductor ETF down 12.15%, the VanEck fund down 11.21%, and Micron off 17.46%. 24/7 Wall St. attributes the selloff to hedge funds locking in gains and AI-regulation fears after Democrats won Congress, and argues a close back above 10,000 after NVIDIA's expected November 17 report would show it was mostly position selling.
