, Columnist
The Story of Markets Told Through Semiconductors
What appeared to be a selloff in cyclical stocks prompted by fears over the economy may actually be more benign.
Go SOX!
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Tuesday saw an alarming sell-off in the U.S. equities markets, followed by a plucky comeback. I think the story is best told through the Philadelphia Stock Exchange Semiconductor Index, known by its ticker symbol of SOX. Semiconductors are notoriously cyclical. If there are worries about the economy, they will surely show up in the performance of the SOX. But this was a day when the SOX fought back.