What happened
In late US trading on the 14th, the Philadelphia Semiconductor Index dropped 5.53% intraday, with widespread declines across chip stocks. Nvidia fell 3.5%, TSMC 2.98%, Broadcom 3.66%, Micron Technology 6.7%, AMD 5.79% and ASML 6.36%.
The optical communication sector also suffered heavy losses: Corning dropped more than 9%, while Marvell Technology, Lumentum and Coherent each fell over 8%, and Credo and Ciena declined more than 6%.
Among large technology stocks, performance was mixed. Apple rose 0.2%, Google gained 1.27%, Microsoft added 0.36%, Meta climbed 1.35%, while Amazon fell 2.32% and Tesla slipped 1.21%.
In notable individual moves, Oracle plunged 6.1%, its largest intraday drop since September 1. Software stocks bucked the trend, with ServiceNow up over 5% and Adobe up nearly 4%.
Why it matters
The broad selloff in semiconductors and optical communications suggests investors are turning cautious on parts of the AI and chip supply chain, even as some large-cap tech names held up.
Oracle's steep decline, its biggest intraday drop since September 1, contrasts with gains in software peers like ServiceNow and Adobe, indicating that selling pressure was not uniform across the tech sector.
Key facts
The Philadelphia Semiconductor Index fell 5.53% intraday on the 14th.
Nvidia fell 3.5%, TSMC 2.98%, Broadcom 3.66%, Micron 6.7%, AMD 5.79% and ASML 6.36%.
Corning dropped over 9%; Marvell, Lumentum and Coherent fell over 8%; Credo and Ciena fell over 6%.
Oracle fell 6.1%, its largest intraday drop since September 1; ServiceNow rose over 5% and Adobe nearly 4%.
What to watch next
Whether the semiconductor and optical communication selloff continues into the next session or stabilizes, and whether large-cap tech stocks remain mixed.
How Oracle's sharp decline and the contrasting moves in software stocks like ServiceNow and Adobe develop, as investors assess sector rotation.