Semis Now Down 26% vs S&P 500, Deepest Since 2022
SumitGup · x · 2026-10-22
Per Marlin Capital, semiconductor stocks ($SMH, $SOXX) are now down 26% relative to the S&P 500 from their relative highs. In 20+ years, only 2008, 2022, and Liberation Day saw meaningfully deeper drawdowns. The attached chart shows the SOX index at a -25.75% drawdown, its deepest since 2022.
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