QQQ and SMH sink as chip stocks have worst day since 2020
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Yahoo Finance Markets and Data Editor Jared Blikre joins Senior Reporter Brooke DiPalma to talk about the sell-off in AI and semiconductor ETFs like SMH (...
Yahoo Finance Markets and Data Editor Jared Blikre joins Senior Reporter Brooke DiPalma to talk about the sell-off in AI and semiconductor ETFs like SMH (SMH) and QQQ (QQQ) and which sectors are holding steady against plunging growth names.
And the wipe out in chip and AI stocks was also weighing on Invesco's QQQ Trust ETF. Let's dive into more of that as part of our ETF report brought to you by PIMCO. I want to bring back in Jared Blikre for more on this. Jared, what are we seeing in after hours trading now?
Well, let's, uh, take a look at what we did for the day and it was not pretty. Let's go to the Wi-Fi Interactive. And here we have, as you said, the Invesco Nasdaq 100 ETF, the so-called Qs versus the VanEck Semiconductor ETF, SMH. And uh, any shaking my head jokes, uh, I think would be appropriate today. And we can see both of those closed at the lows of the day. So, chips down 11%, worst day for chips since I believe 2020, the pandemic lows. Uh, Nasdaq 100 worst day since probably April of 2025. And uh, you take a look at what's happened over the last month, we we peaked almost exactly one month ago. October 6th with a major interim high. It wasn't the absolute high in chip stocks, uh, but it was kind of one of those swing periods. So the one-month chart really shows you the deterioration over that period. In that time, chip stocks have lost 30%. Meanwhile, the Nasdaq 100, which is full of those mega cap names that we love to talk about, that was down 15% or roughly half of that. So uh, to the prior guest point, we were talking about concentration many times over this uh, three and a half, uh, four-year bull market, and guess what? It is not a concentrated market anymore. Things have changed.
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