The sell-off in chipmakers is going from bad to worse.
Semiconductor stocks are facing their biggest monthly drop since the financial crisis as the Trump administration’s crackdown on Chinese technology group Huawei and the continued trade spat between Washington and Beijing heap pressure on the sector.
All 30 members of the Philadelphia semiconductor index, which tracks companies that design, distribute and manufacture semiconductors, were in the red on Monday, dragging the index 3.1 per cent lower this morning and leaving it down by 13 per cent so far this month.
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