US AI hardware and semiconductor stocks plunge sharply; Lumentum down more than 11%

TechFlow reported on November 4 that, according to Bitget market data, US AI hardware and semiconductor sectors pulled back collectively, with the Philadelphia Semiconductor Index down more than 3.8%.

Optical communications, storage, and equipment majors led the decline, with Lumentum falling more than 11%, the 3x Long Semiconductor ETF (SOXL) down more than 11%, Coherent down more than 8%, Marvell Technology down more than 8%, SanDisk down more than 7%, Seagate Technology down more than 7%, Western Digital down more than 6%, Micron Technology down more than 5%, Intel down more than 5%, SK Hynix down more than 4%, Arm down more than 4%, and ASML down nearly 4%.

Computing leaders NVIDIA, TSMC, and Broadcom all fell more than 2%. Qualcomm bucked the trend, rising more than 1%.

Source: TechFlow