In July, American equity and semiconductor stocks were subject to crisis-level fluctuations

ON 4 AUGUST, THE UNITED STATES SHARE MARKET SEMICONDUCTOR INDEX SOX REACHED AT LEAST 2 PER CENT OF DAY-TO-DAY FLUCTUATIONS IN ALL 22 TRADING DAYS IN JULY, A DATA LEVELLING THE 2020 RECORD. PRIOR TO THAT, SUCH A LONG AND HIGHLY VOLATILE CYCLE ONLY OCCURRED DURING THE 2008 FINANCIAL CRISIS. AT THE SAME TIME, THE SOX INDEX FELL SHARPLY BY 21 PER CENT IN JULY, CREATING ITS WORST SINGLE-MONTH PERFORMANCE SINCE OCTOBER 2008, RESULTING IN THE EVAPORATION OF ITS MARKET VALUE BY $2.2 TRILLION. AS A RESULT, THE 60-DAY HISTORICAL VOLATILITY OF THE INDEX SURGED TO ABOUT 66 PER CENT, REACHING ITS HIGHEST LEVEL SINCE THE 2020 EPIDEMIC, WHEN IT PEAKED AT ABOUT 85 PER CENT. BY CONTRAST, DURING THE 2008 FINANCIAL CRISIS, THE VOLATILITY HAD TOUCHED ABOUT 75 PER CENT。