US semiconductor stocks are experiencing a significant downturn, with the PHLX Semiconductor Index falling over 25% from its June peak and the Roundhill Memory ETF (DRAM) down over 40%. SK Hynix hit an all-time low in US trading, and Micron Technology shed over $450 billion in market value in July. Despite this, the broader market remains resilient; the S&P 500 equal-weight index rallied 1% to a record high on Tuesday, and nearly three-quarters of S&P 500 stocks are still higher in July. Nvidia and Broadcom showed relative resilience within the chip sector.