Semiconductor stocks are experiencing a historic losing streak:
The Semiconductor Index, $SOX, has declined for 7 consecutive trading sessions, matching its longest streak since the 2008 Financial Crisis.
Over this span, the index has dropped -12.4% erasing -$2 trillion in market value.
This also marks its 5th correction of at least -10.0% this year.
Currently, more than 50% of SOX’s constituents are down at least -10% from their respective highs.
Over the last 20 years, there have only been 2 longer such streaks, in 2006 and 2008.
Semiconductor stocks are seeing massive swings.