Chips — Bear Market Again, but Not Like July

The Philadelphia chip index, the benchmark for US-listed chip makers, closed Friday at 11,137 — 23.9% below its record close of 14,635 on 22 June and past the 20% line that marks a bear market.

The chip stocks are in a bear market again. The Philadelphia chip index, the benchmark for US-listed chip makers, closed Friday at 11,137 — 23.9% below its record close of 14,635 on 22 June and past the 20% line that marks a bear market. It got there in eight losing days in a row, its longest losing streak in 16 years, as reported by Barchart. It is the…