Intel stock collapse worsens as $3.5T chip rout spreads

Chip stocks experienced a massive selloff, with the semiconductor sector losing approximately $3.7 trillion in market value since early October, led by Intel's near 50% decline following a disappointing earnings forecast. On a single Monday trading session, chip stocks shed over $400 billion as major players like Micron, Sandisk, and Seagate fell 6-8%, while Nvidia held up relatively better but remains down 16% from early October. Despite the steep losses, some analysts believe the market has already priced in the worst outcomes, pointing to historical patterns suggesting chips have climbed in all eight midterm election cycles since 1994.