Philadelphia Semiconductor Index Losses Widen to 6% as Intel Falls 29.6%

The Philadelphia Semiconductor Index's losses widened to 6% on Friday, Oct. 30, as chip stocks fell across the board. Intel recorded the steepest decline among the seven individual companies named in the market update.

Intel shares dropped 29.6%. ARM fell 10.18%, and Advanced Micro Devices (AMD) declined 9.48%. Broadcom was down 5.04%, Micron Technology lost 4.46%, TSMC slipped 3.83% and Nvidia fell 3.24%.

All seven individual stocks listed were lower. Intel's drop was the largest, while Nvidia's was the smallest. The index's 6% decline exceeded Broadcom's, Micron Technology's, TSMC's and Nvidia's losses, but was smaller than Intel's, ARM's and AMD's declines.

ARM had the second-steepest fall, followed by AMD. Broadcom's loss exceeded Micron Technology's and TSMC's, while Nvidia had the smallest move. The listed declines ranged from the double-digit losses at Intel and ARM to drops below 10% for the other five companies.