Philadelphia Semiconductor Index ends 105% rally, enters bear market
Key Points
- 1. The Philadelphia Semiconductor Index has entered a bear market after falling more than 20 percent from its recent peak.
- 2. The total market value of the index has evaporated by 1.5 trillion dollars (48.6 trillion Taiwan dollars).
- 3. The value loss experienced corresponds to an economic volume equal to Spain's GDP.
By the Numbers
The Philadelphia Semiconductor Index (SOX) started trading lower on July 17 and has lost more than 20 percent of its value from its recent peak. Along with this sharp decline, the market value of the index has evaporated by about 1.5 trillion dollars (approximately 48.6 trillion Taiwan dollars).
The value loss experienced by the index is equivalent to a massive economic volume the size of Spain's Gross Domestic Product (GDP). This situation has caused anxiety among investors following a tremendous rally that recently reached up to 105%.
This sharp breakdown in the market also brings along discussions on how a potential cooling in the semiconductor sector could affect the global economy. Experts are closely monitoring how long these huge losses in the sector will last and whether they will deepen.
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Frequently Asked Questions
- Q: How much value did the Philadelphia Semiconductor Index lose?
- A: The index experienced a decline of more than 20 percent from its recent high, and a total market value of 1.5 trillion dollars evaporated.
- Q: What is this value loss compared to?
- A: The 1.5 trillion dollar loss wiped from the index is seen as roughly equal to the size of Spain's Gross Domestic Product.
- Q: When did the decline in the semiconductor index accelerate?
- A: The index started trading with a sharp decline on July 17, leaving behind the previous 105% rally process and entering a bear market.
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