Semiconductor stocks are facing their biggest monthly drop since the 2008 financial crisis, after the Trump administration’s crackdown on Chinese technology group Huawei, reported the Financial Times.
All 30 members of the Philadelphia semiconductor index, which tracks companies that design, distribute and manufacture semiconductors, were in the red on Monday, dragging the index 3.1% lower this morning and leaving it down by 13% so far this month.
That puts the gauge, which trades under the ticker Sox, on track for its worst month since November 2008, when it shed 17.2%. The month before that, it dropped 22%.
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