Atom Brief

Semiconductor Index's Worst Week In A Year Confirms Bear Market

By Atom Brief Editors

The Philadelphia Semiconductor Index fell nearly 10% this week, closing over 20% below its late-June peak, though still up 60% in 2026.

• Nvidia fell 2.2%, Applied Materials 5.6%, SanDisk 4% and Intel 2% on Friday alone.
• SK Hynix shares briefly traded below their offering price before closing modestly higher.
• A Chinese Moonshot AI model and reports of a delayed Google Gemini update rattled investors.

Why it matters: Wall Street calls this profit-taking; a fifth of an index's value erased is simply a correction.

Reuters (via Yahoo Finance) ↗ · Jul 17, 20267/17/26 · ✓ Checked✓ Check