<div id="readability-page-1">Biggest drop since March: The Philadelphia Semiconductor Index saw its largest two-day decline in nearly two months, with Intel down 17% and Micron off 14%. Crowded trade warning: A record 73% of fund managers now see long semiconductors as the most crowded trade, sharply up from 24% in April. Yields pressure valuations: The 10-year Treasury yield hit 4.61%, eroding high-growth tech valuations and prompting rotation into safer assets.</div>

INTC

SOXS

<p>The Philadelphia Semiconductor Index experienced its largest two-day decline since March, with Intel down 17% and Micron off 14%. A record 73% of fund managers now view long semiconductors as the most crowded trade, up from 24% in April. The 10-year Treasury yield reached 4.61%, impacting high-growth tech valuations and leading to a shift towards safer assets.</p>

- The Philadelphia Semiconductor Index experienced its largest two-day decline since March, with Intel falling 17% and Micron decreasing by 14%.  
- A record 73% of fund managers currently view long semiconductors as the most crowded trade, a significant increase from 24% in

Intel

Micron Tech

Direxion Semicon Bear 3X

Direxion Daily MU Bull 2X Shares

GraniteShares 2x Long INTC Daily ETF

iShares Semiconductor ETF

Direxion Semicon Bull 3X

Invesco Semiconductors ETF

First Trust Nasdaq Food & Semicon

Direxion Daily MU Bear 1X Shares

Invesco PHLX Semiconductor ETF

SPDR S&P Semicon

GraniteShares 2x Long MU Daily ETF

VanEck Semiconductor ETF

Semiconductor rally stalls as bond yields surge and crowding peaks