Chip Slump Deepens as Memory Makers Lead the Selloff
Chip stocks are sliding while the broader market stays resilient: the SOX briefly broke below 11,000 and is down more than 25% from its June peak, as memory names lead the decline with the DRAM ETF down about 11%, SK Hynix at an all‑time US low, Micron plunging, and Sandisk more than halved from its June high. Nvidia eked out gains and Broadcom held losses, helping the overall market stay buoyant as the S&P 500 equal‑weight index and breadth indicators push to records. The Fed rate decision later this week is the next big hurdle, and if breadth holds, the chip weakness remains a sector issue rather than a market‑wide downturn.
