November 5, 20261 min read0 views

Philadelphia Semiconductor Index Falls 11.41% as Bitcoin Slides 5.25%

A sharp U.S. chip selloff sent the Philadelphia Semiconductor Index down 11.41% Thursday, while Bitcoin (BTC) fell 5.25% as investors reassessed AI infrastructure prospects across financial markets.

The semiconductor index dropped to 9,097.49 by 11:01 a.m. ET (16:01 UTC). The Nasdaq 100 fell 5.82%, the Nasdaq Composite lost 5.19% and the S&P 500 declined 3.47%. TSMC's U.S.-listed shares…

Reading Level🟢BeginnerNo prior crypto knowledge needed

Listen to this article

A sharp U.S. chip selloff sent the Philadelphia Semiconductor Index down 11.41% Thursday, while Bitcoin (BTC) fell 5.25% as investors reassessed AI infrastructure prospects across financial markets.

The semiconductor index dropped to 9,097.49 by 11:01 a.m. ET (16:01 UTC). The Nasdaq 100 fell 5.82%, the Nasdaq Composite lost 5.19% and the S&P 500 declined 3.47%. TSMC's U.S.-listed shares slid 10.47% to $354.32. The Cboe Volatility Index, known as the VIX, jumped 56.41% to 25.98.

At 11:01 a.m. ET Thursday (16:01 UTC), BTC traded near $75,900, down 5.25% from the previous day. SanDisk shares fell 20.94%, while Micron dropped 16.24.

Investors worried that a Democratic-controlled Congress could slow AI data center development after Democrats won both chambers on Nov. 3. Qualcomm added pressure with a next-quarter adjusted earnings forecast of $2.15 to $2.35 per share, whose midpoint was below the $2.27 analyst estimate. Its handset-chip revenue fell 26% to $5.14 billion as higher memory prices pressured phone demand.

The U.S. market's final close will feed into Taiwan's trading session Friday, Nov. 6.