AI Summary

The Philadelphia Stock Exchange Semiconductor Index (SOX) fell 21 % in July, its steepest decline since October 2008, amid growing doubts that artificial‑intelligence spending will sustain its current momentum. The index, which tracks 30 major chipmakers, recorded a 4 % or greater move on almost half of the month’s trading days. Every one of the 22 sessions saw intraday swings of at least 2 %, a level not seen since 2020. The sharp volatility signals a shift in investor sentiment toward the semiconductor sector.

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