US chip stocks extend selloff, market value loss seen topping $1 trillion

TREE NEWS reports: Philadelphia Semiconductor Index constituents are on track to shed more than $1 trillion in combined market value as concerns over rising interest rates, stretched valuations and the huge cost of AI infrastructure mount. The index fell as much as 3.1% and has lost about 10% over six straight sessions, its longest losing streak since May 2025. Arm Holdings dropped nearly 20%, Applied Materials about 15% and Intel 11%; GlobalFoundries was the only gainer.