Between July 24 and July 28, 2023, 20 major semiconductor stocks collectively lost $1.3 trillion in value, according to FactSet data shared by CNBC. Nvidia saw a significant drop of $238 billion, while Micron Technology experienced a loss of $113 billion during the same period.
This decline raises concerns about potential broader market implications, although the S&P 500 managed to hold up better than some tech-heavy indexes. Historical data indicates that nearly half of the best days for the S&P 500 occur during bear markets, emphasizing the risks of panic selling during downturns. Analyses suggest that missing even a few of the best days in the market can lead to substantial losses in overall returns.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
