NewsMV
Short sellers captured $32 billion in gross paper profits over a seven-day period, according to S3 data cited by Bloomberg, as the Philadelphia Semiconductor Index (SOX) fell more than 12%.
The sector benchmark extended its decline to eight consecutive trading days on Friday, a streak that puts it on pace to match its longest losing run since 2006.
This sharp retreat in semiconductor stocks has been driven by growing market anxiety over elevated interest rates, high technology valuations, and massive capital expenditures for artificial intelligence.
The weakness in the chip sector has rippled into broader equity markets.
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