Wall Street Massacre Rages On, Chipmakers Eye Worst Week Since Dot-Com Burst, Bonds Rally: What’s Driving Markets Friday?

Wall Street’s sell-off shows no signs of easing into the week’s close, in what’s shaping up to be the worst week for U.S. equities since March 2020.
The market’s bleeding is now visible across the board: the Dow Jones has slipped into correction territory, while the tech-heavy Nasdaq 100 has entered a bear market after falling more than 20% from its highs.
Tech and semiconductor stocks have taken the brunt of the damage, following China’s announcement of retaliatory tariffs of 34% on U.S. goods — a tit-for-tat move matching the rate once imposed by President Donald Trump.
The VIX index — also known as the “market fear gauge” — spiked 35% to 40 levels, heading for the highest daily close since October 2020.
Other countries are threatening retaliation, fueling fears of a broader global trade war that could disrupt supply chains and weigh heavily on the global economy.
The iShares Semiconductor ETF (NYSE:SOXX) — a key proxy for the U.S. chipmaking industry — has plunged 16% this week, on track for its worst performance since September 2001 at the height …Full story available on Benzinga.com

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