Chip stocks extend losing streak to 8 days as SOXX falls 14% from October high

The iShares Semiconductor ETF (SOXX) closed lower for eight consecutive sessions on October 15, 2026, the longest losing streak in 16 years, dropping nearly 14% from its October peak. Selling was driven by AI spending doubts after OpenAI revised annualized revenue estimates downward, inflation data prompting expectations of further Fed rate hikes, and an Asian memory sector rout. Despite strong earnings from Taiwan Semiconductor Manufacturing Company, the ETF remained below its 50-day moving average and key technical support levels.