Chip Index Falls for Eighth Straight Day After Kospi Plunges More Than 7%

Semiconductor stocks extended their slide on Friday. The Philadelphia Semiconductor Index fell 0.88%, its eighth consecutive daily decline, after South Korea's Kospi dropped more than 7% overnight.

Among the larger decliners, Arm Holdings fell about 6.5%, Micron roughly 4.8% and Broadcom about 4.4%. CoreWeave swung sharply, falling more than 9% early before closing up almost 6%.

The weakness in chips and AI-linked names weighed on the technology sector, which was among the day's weakest, even as the broader market finished higher. Holders of hardware names such as Super Micro Computer have faced a volatile stretch.