Semiconductor index enters bear market as inflation and AI investment doubts sink stocks
nordicinst · x · 2026-10-15
September CPI rose 0.6% month-over-month (biggest jump in five months) and 3.7% year-over-year, above expectations. The S&P 500 fell 1.1% — its worst day in over two months — the Nasdaq dropped 1.9%, and the Philadelphia Semiconductor Index fell 4.3%, now more than 20% below its June peak in bear-market territory. Hotter inflation pressures the Fed to keep hiking and casts doubt on heavily borrowed AI-linked companies' growth expectations, though strong big-tech earnings are still expected this quarter.
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