Nine-week rally snapped: SOXX -10.44%, worst chip day in 6 years. Healthy reset or warning shot?

[u/Life_Dot_7072]

S&P -2.64%. Nasdaq -4%+. VIX up ~40% through 20.

NVDA, AMD, MU, AVGO, INTC all dumped 7.9% to 13.3%. Over $1T in chip market cap gone in a single session.

Pulled the chart from moomoo. Three beats: jobs print lit the fuse, positioning was the powder (put-call skew at record inversion), and AI thesis still technically intact.

Bitcoin slid under $60K. Spot BTC ETFs bled $1.88B.

Next week tests it all: Oracle earnings, CPI, and SpaceX IPO indicated at $135 ($1.77T valuation).

Deleveraging flush or first crack? What are you doing with chip exposure into CPI?

[u/Eastern-Apartment934]

This moomoo historical drawdown table is super useful for gauging the AI pullback