TREE NEWS reports: The Nasdaq fell 1.2% in early US trading as the Philadelphia Semiconductor Index dropped 3.7%, with TSMC down about 4% after reporting third-quarter results. Optical and memory chip stocks sold off broadly: Lumentum fell about 8%, Coherent about 7%, and SK Hynix, Western Digital, SanDisk and Seagate each about 6%. The Dow rose 0.4% while the S&P 500 slipped 0.4%.
Nasdaq Falls 1.2% as Chip Stocks Slide; TSMC Drops 4% on Q3 Results
AI take
The selloff's breadth across optical, memory and foundry names points to a sector-wide de-rating rather than a single earnings miss, with the Dow's gain suggesting rotation out of semis rather than outright risk-off. TSMC's result is the catalyst, but the punishment of suppliers and memory peers implies the market is reading it as a demand or margin signal for the whole chain. Whether the weakness stays contained to semiconductors or spills into the broader Nasdaq is the open question.
Generated by AI for reference only.
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