BLOODBATH 🚨

The US market is deep red today and the chip sector is getting absolutely destroyed.
Applied Materials down 8%. Lam Research down 7.55%. Marvell down 9.16%. KLA down 7.95%. Micron down 7.38%. AMD down 4.96%. Nvidia down 3.12%.
Every single company that builds or designs the hardware the AI boom runs on is selling off hard at the same time.
This is not a broad macro selloff. Look at the heatmap carefully. Walmart is red. Caterpillar is down 4.87%. But the real damage is concentrated in one place, the AI semiconductor complex, and it is getting hit like the market is repricing the entire trade.
The KOSPI circuit-broke twice this month on Samsung and SK Hynix. The Philadelphia semiconductor index has now lost nearly 15% in two weeks. Apple and Microsoft raised hardware prices citing memory costs. And now the US chip names are following the Asian ones lower.
The AI trade is not dead. But whoever told you the bottom was in last week was early.