Live Updates > Live Update Details
2026-07-17 22:00:13
[Tech Stocks Plunge, Dragging Down US Stocks; Philadelphia Semiconductor Index Approaching Bear Market Territory] ⑴ US stocks opened lower on Friday, with the technology sector under widespread pressure. The Philadelphia Semiconductor Index has fallen more than 20% from its historical closing high, potentially confirming a technical bear market. SK Hynix ADRs fell below their IPO price, and SpaceX shares have dropped approximately 38% from their peak, resulting in significant market capitalization losses. ⑵ Core semiconductor stocks such as Intel, AMD, and TSMC fell by 5% to 7%. Analysts believe that the current correction in chip stocks has exceeded the scope of fundamental explanations, reflecting a shift in investment style and market preference from growth to value stocks. ⑶ The Federal Reserve Chairman expressed dissatisfaction with inflation at a hearing, reinforcing market expectations for interest rate hikes. Several officials released hawkish signals, with Logan explicitly calling for further rate hikes and Schmid warning of persistent upward inflation risks in the coming months. Expectations of policy tightening continue to suppress valuations. ⑷ Geopolitically, the outlook for the US-Iran war remains uncertain, suppressing overall risk appetite. In summary, the semiconductor sector is currently under triple pressure from rising interest rate expectations, capital rotation, and risk aversion. Whether it can stabilize in the future depends on the trend of US Treasury yields and whether there are signs of marginal easing in the geopolitical situation.
