Semiconductors (SOXX) news that moved the stock

What happened

Nvidia CEO Jensen Huang, speaking to Bloomberg at an event in Stockholm on Thursday Oct 15, said CoreWeave does not need a financial backstop from Nvidia. 'CoreWeave's strength is improving every day,' Huang said. 'I'm optimistic. Their cost of capital is actually decreasing.' The remarks came a day after CoreWeave's stock plunged 15% and the yield on its 9.625% notes due 2032 spiked to 15% as credit markets repriced its debt risk, and after Jefferies argued Nvidia should provide financing backstops to the neocloud ecosystem. Huang's comments helped cool the AI selloff intraday: CoreWeave narrowed its Thursday decline, Oracle swung from a deep loss to a gain, and the major indexes recovered much of their early losses.

What happened

TSMC reported a sixth consecutive quarter of record earnings. Q3 net profit rose about 69% year over year to NT$763.1 billion ($23.59 billion), beating the LSEG SmartEstimate of NT$746.3 billion. Revenue rose about 51% to NT$1.49 trillion ($46.72 billion). Gross margin hit 66.4%, operating margin 58.7%, and net margin 51.1%. Management guided Q4 revenue to $52.3–$54.3 billion, implying 55–61% year-over-year growth. The 2nm node contributed 8% of wafer revenue, up from 3% in Q2, and advanced nodes (7nm and below) made up 79% of wafer revenue. TSMC kept 2026 capex guidance at $60–$64 billion.

What happened

The chip sector sold off broadly on Monday in what MarketWatch described as a fourth straight decline and its lowest close since Sept 18, with all 30 PHLX Semiconductor Index components losing ground and the SOX shedding 2.3%. Nvidia fell 1.7% to about $226, extending a pullback to roughly 5.8% since its $239.24 record close on Oct 6. The damage was heaviest in memory and photonics: Micron and Marvell were down more than 4%, Sandisk fell 6%, and Lumentum and Coherent were among the biggest S&P 500 decliners. The S&P 500 Information Technology sector was the index's worst performer, down about 1%, even as the broader market held mixed.

What happened

The US Treasury selloff deepened on Monday, Sept. 28, pushing yields to fresh multiyear highs. Per WSJ/Dow Jones Newswires, the 10-year yield settled at 5.241% (a 19-year high; intraday high of 5.272%, near a 24-year record) and the 30-year touched 5.561%, a 24-year high. The S&P 500 fell 0.77% to 7,683.69, the Dow dropped 347.1 points (0.67%) to 51,481.51, and the Nasdaq fell 0.92% to 26,820.38. Brent crude closed at $105.28 (+0.9%) after an intraday 3% spike, and money markets priced a 70% probability of a 25bp Fed rate hike in October (vs. 58% a week earlier per CME FedWatch).