Chip, AI stocks plunge as market rotation takes hold
Published . Updated .
Key takeaways
- Main Street Asset Management CIO Erin Gibbs joins ‘Making Money’ to assess the markets as chip and AI infrastructure stocks lead a sharp sell-off.
- Exposed: SMH, SOXX, QQQ, MSFT, GOOGL
- Market reaction: SOXX −10.4% on the day (still updating); SMH −9.5% on the day (still updating); AVGO −8.7% on the day (still updating)
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Main Street Asset Management CIO Erin Gibbs joins ‘Making Money’ to assess the markets as chip and AI infrastructure stocks lead a sharp sell-off.
Directly affected
- No company is named in this report.
Indirectly affected
- SMH VanEck Semiconductor ETF-16.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- SOXX iShares Semiconductor ETF-20.8% 30d
iShares Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story.
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- MSFT Microsoft+11.8% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- GOOGL Alphabet-15.6% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- AMZN Amazon.com+6.7% 30d
Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- META Meta Platforms-19.0% 30d
Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story.
- AVGO Broadcom-7.1% 30d
Broadcom (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| SMH | +11.33% | +0.71% | base | -9.49% | after close | after close | after close |
| SOXX | +13.89% | +0.56% | base | -10.38% | after close | after close | after close |
| QQQ | +3.43% | -1.51% | base | -5.75% | after close | after close | after close |
| MSFT | -4.62% | -8.82% | base | -3.15% | after close | after close | after close |
| GOOGL | -1.88% | -3.44% | base | -1.73% | after close | after close | after close |
| AMZN | -8.41% | -7.66% | base | -2.28% | after close | after close | after close |
| META | -0.86% | -3.69% | base | -3.97% | after close | after close | after close |
| AVGO | +5.97% | -0.99% | base | -8.74% | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Chip, AI stocks plunge as market rotation takes hold Fox Business
Source: Fox Business
How far Vaneck Etf Trust (SMH) has moved since 5 Nov 2026
| Company | When | Move | Status |
|---|---|---|---|
| Amazon Com (AMZN) | that day | -2.28% | still updating |
| Amazon Com (AMZN) | three days earlier | -7.66% | final price |
| Amazon Com (AMZN) | five days earlier | -8.41% | final price |
| Broadcom (AVGO) | that day | -8.74% | still updating |
| Broadcom (AVGO) | three days earlier | -0.99% | final price |
| Broadcom (AVGO) | five days earlier | +5.97% | final price |
| Alphabet (GOOGL) | that day | -1.73% | still updating |
| Alphabet (GOOGL) | three days earlier | -3.44% | final price |
| Alphabet (GOOGL) | five days earlier | -1.88% | final price |
| Meta Platforms (META) | that day | -3.97% | still updating |
| Meta Platforms (META) | three days earlier | -3.69% | final price |
| Meta Platforms (META) | five days earlier | -0.86% | final price |
| Microsoft (MSFT) | that day | -3.15% | still updating |
| Microsoft (MSFT) | three days earlier | -8.82% | final price |
| Microsoft (MSFT) | five days earlier | -4.62% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | that day | -5.75% | still updating |
| Invesco Qqq Trust, Series 1 (QQQ) | three days earlier | -1.51% | final price |
| Invesco Qqq Trust, Series 1 (QQQ) | five days earlier | +3.43% | final price |
| Vaneck Etf Trust (SMH) | that day | -9.49% | still updating |
| Vaneck Etf Trust (SMH) | three days earlier | +0.71% | final price |
| Vaneck Etf Trust (SMH) | five days earlier | +11.33% | final price |
| Ishares Tr (SOXX) | that day | -10.38% | still updating |
| Ishares Tr (SOXX) | three days earlier | +0.56% | final price |
| Ishares Tr (SOXX) | five days earlier | +13.89% | final price |
Congressional trades in the stocks in this story
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 34 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 36 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 38 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 52 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 62 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 70 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN), worth $15,001 - $50,000 on 27 Oct 2026. That is 9 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN) (held by a spouse), worth $100,001 - $250,000 on 2 Oct 2026. That is 34 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Amazon Com (AMZN) (held by a spouse), worth $1,001 - $15,000 on 28 Aug 2026. That is 69 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar sold Meta Platforms (META), worth $1,001 - $15,000 on 24 Sep 2026. That is 42 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Meta Platforms (META) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 43 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Maria Elvira Salazar bought Meta Platforms (META), worth $1,001 - $15,000 on 22 Sep 2026. That is 44 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Vaneck Etf Trust (SMH) on one side of this semiconductors story
Companies mentioned with this story
- SMH Vaneck Etf Trust
For “Chip, AI stocks plunge as market rotation takes hold,” Vaneck Etf Trust (SMH) is linked, with no stored direction, medium confidence. Reason on file: VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story
- SOXX Ishares Tr
Ishares Tr (SOXX) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Chip, AI stocks plunge as market rotation takes hold.” Reason on file: iShares Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story
- QQQ Invesco Qqq Trust, Series 1
In “Chip, AI stocks plunge as market rotation takes hold,” Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence. Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story
- MSFT Microsoft
For “Chip, AI stocks plunge as market rotation takes hold,” Microsoft (MSFT) is linked, with no stored direction, medium confidence. Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- GOOGL Alphabet
Alphabet (GOOGL) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Chip, AI stocks plunge as market rotation takes hold.” Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- AMZN Amazon Com
Amazon Com (AMZN) is linked, with no stored direction, medium confidence in the 5 Nov 2026 story “Chip, AI stocks plunge as market rotation takes hold.” Reason on file: Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- META Meta Platforms
In “Chip, AI stocks plunge as market rotation takes hold,” Meta Platforms (META) is linked, with no stored direction, medium confidence. Reason on file: Meta Platforms (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “ai” (AI and big tech) in this story
- AVGO Broadcom
In “Chip, AI stocks plunge as market rotation takes hold,” Broadcom (AVGO) is linked, with no stored direction, medium confidence. Reason on file: Broadcom (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “chip” (semiconductors) in this story
How “Chip, AI stocks plunge as market rotation takes hold” reaches Vaneck Etf Trust (SMH)
On 5 Nov 2026, “Chip, AI stocks plunge as market rotation takes hold” is the story that connects Vaneck Etf Trust (SMH) to Semiconductors.
For Vaneck Etf Trust (SMH), the reason on file says VanEck Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story
A second company, Ishares Tr (SOXX), is listed for a different reason: iShares Semiconductor ETF: it holds chipmakers. Linked by “chip” (semiconductors) in this story
The price range for Vaneck Etf Trust (SMH), and the dates in the story
QQQ traded between 680.34 and 757.18 across 20 sessions. The latest close on file is 685.32. SMH traded between 506.51 and 639.33 across 20 sessions. The latest close on file is 508.07. SOXX traded between 452.10 and 596.35 across 20 sessions. The latest close on file is 453.73.
How strong the case is around Vaneck Etf Trust (SMH)
46 out of 100Price not final
“Chip, AI stocks plunge as market rotation takes hold” scores 46 out of 100. The score uses 1 sources, and 8 linked companies. The price is not final yet.