The semiconductor sector just had its worst day in over six years. US-traded chipmakers shed roughly $1.3 trillion in market value on June 5, as a brutal sell-off tore through the industry and sent shockwaves into crypto, which lost an estimated $130 billion in parallel.
The Philadelphia Semiconductor Index (PHLX SOX) cratered 10.3% in a single session, its steepest drop since the pandemic-era chaos of March 2020. Over two days, the damage extended to around 12%. For a sector that had been riding a 73% year-to-date rally on the back of AI mania, the reversal was swift and merciless.
Who got hit the hardest
Nobody was spared, but some names took significantly more damage than others. Marvell Technology led the bleeding with a 17% decline, followed by Micron Technology at 13% and Advanced Micro Devices at roughly 11%.
Nvidia, the poster child of the AI chip boom, fell nearly 6%. That single-digit percentage sounds modest until you remember the scale involved: over $300 billion in market capitalization, wiped out in one trading session.
