Semiconductor Index drops 10%—biggest plunge since 2020, wiping $1 trillion
The Philadelphia SE Semiconductor Index (.SOX) tumbled 10.3%, its steepest one‑day decline since March 2020, erasing more than $1 trillion in market value. The sell‑off was sparked by a hotter‑than‑expected jobs report that raised fears of a tighter Federal Reserve stance, dragging down the broader tech‑heavy Nasdaq.