# PHLX Semiconductor Index Falls 15.7% Across Eight Sessions By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/35954 Published: 2026-10-20T20:43:59.000Z Updated: 2026-10-20T20:43:59.000Z Section: Investing > It rebounded 1.6% on Oct. 19 but remained 14.4% below its Oct. 6 close, compared with a 1.6% decline in the S&P 500. The PHLX Semiconductor Index fell 15.7% over eight trading sessions through Oct. 16, and its subsequent rebound left chip shares far behind the broader U.S. market. The index closed at 13,217.82 on Oct. 6 and 11,137.29 on Oct. 16, declining in each of the eight intervening sessions. A 1.6% gain on Oct. 19 ended the losing streak, lifting it to 11,316.34. It was still down 14.4% from Oct. 6, while the S&P 500 lost 1.6% over the same period. The PHLX index tracks semiconductor companies, so its decline measures a move in chip shares rather than every stock connected to artificial intelligence. The slide followed [an earlier chip selloff after a warning about speculative AI investing](). Neither the index decline nor the rebound establishes the direction of the broader AI stock market. Global technology sector funds recorded $4.75 billion in net outflows in the week through Oct. 14. Global equity funds took in $20.01 billion over the same week, putting the technology withdrawals alongside broader inflows to stock funds. The index slide came after Nvidia released its fiscal 2027 second-quarter results on Aug. 26. Data center revenue reached $89.0 billion in the quarter ended July 26, up 117% from a year earlier. That sales growth preceded the October decline in chip shares. An AI-related market correction remains a risk. At an Oct. 13 briefing, Athanasios Vamvakidis, deputy division chief in the Monetary and Capital Markets Department of the International Monetary Fund (IMF), identified one risk: “An AI-related market correction if expectations on investment or profits disappoint.” Leverage and concentrated exposure could magnify such a move. Digital asset users can encounter related equity risk through tokenized products offering indirect exposure to Nvidia shares. Such products exist, though access depends on jurisdiction and eligibility. Tokenized equity markets are less liquid and more volatile than conventional equity markets. ## Links in this article - [an earlier chip selloff after a warning about speculative AI investing](https://www.tokenpost.com/news/investing/30860)