On June 5, 2026, major chip stocks, including Marvell and Micron, experienced significant losses, marking the sharpest decline for the chip sector in over six years. The PHLX Semiconductor Index fell by 10.3%, the largest one-day percentage drop since March 2020, as investors moved away from momentum stocks following a strong jobs report.

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Tech Stocks

Marvell, Micron shares tumble as the chip sector suffers its worst day in 6 years

Investors are cooling on momentum stocks and considering the implications of a strong jobs report

Published: June 5, 2026 at 5:03 p.m. ET

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(4 min)

Micron office building in San Jose, California. Micron shares lost 13% in Friday’s trading action.Photo: Getty Images/iStock

Major chip stocks sold off sharply on Friday to seal the sector’s sharpest one-day loss in more than six years, as investors bailed on momentum-oriented plays.

The PHLX Semiconductor Index SOX closed down 10.3% on Friday afternoon — its largest one-day percent decline since March 16, 2020, according to Dow Jones Market Data.

About the Author

Hannah Pedone

Hannah Pedone is a New York–based technology reporter for MarketWatch.

Britney Nguyen

Britney Nguyen is a tech reporter covering Nvidia, chips and AI. You can find her on X at @britneycath.

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