Key Highlights

● Entegris fell Friday and moved with the chip sector, with no company-specific news.

● The PHLX Semiconductor Index slid to 11,137.29, with all 30 constituents lower.

● Reports disagreed on the length of the streak, citing eight to nine straight declines.

● Chip-equipment and semiconductor earnings next week should show fresh evidence on fab activity.

Following the sector

Entegris (NASDAQ:ENTG), which supplies specialty chemicals, filters, purification systems and wafer-handling products used in semiconductor manufacturing, fell on Friday, according to market reports. Those reports grouped the company with Micron Technology (NASDAQ:MU), Advanced Micro Devices (NASDAQ:AMD), Marvell Technology (NASDAQ:MRVL) and Western Digital (NASDAQ:WDC) among chip stocks that were falling, and said Entegris moved with the sector.

No company-specific announcement or analyst action on the S&P MidCap 400 member was reported. Because its products are consumed in chip fabrication plants, Entegris's business is closely linked to manufacturing volumes at semiconductor makers.

The streak continues

Semiconductor stocks extended a losing run that has become one of the defining features of October trading. The PHLX Semiconductor Index fell to 11,137.29, with all 30 constituents lower, according to market data. Several reports counted an eighth straight decline, while another said the sector was setting up a ninth straight drop, the first such run since 2006, and a further report called it the longest losing streak since 2008. The reports disagreed on the exact length.

One report said the iShares Semiconductor ETF has fallen sharply from its Oct 2 close. Market commentary added that the rotation away from AI-linked stocks erased more than $1 trillion from semiconductor and AI-related companies over the week.

Who fell and why

Large chip names led the decline. Advanced Micro Devices sank, Micron Technology slid, Marvell Technology fell and Western Digital tumbled, according to market data. Equipment maker KLA (NASDAQ:KLAC) also fell.

Memory stocks faced worries over Chinese competition, specifically CXMT's progress in DRAM technology. Market reports pointed to rising borrowing costs and Federal Reserve Chair Kevin Warsh's emphasis on price stability as additional pressures on the group. The broader concern was how the artificial intelligence build-out will be financed, with debt-funded infrastructure companies such as CoreWeave (NASDAQ:CRWV) hit hardest.

Not all the news was negative for the supply chain. Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) reported third-quarter revenue of $46.72 billion, above its guidance, and kept its 2026 capital spending plan at $60 billion to $64 billion.

The tape

The Nasdaq Composite fell 572.99 points to 26,140.03, the S&P 500 dropped 84.62 points to 7,659.44 and the Dow Jones Industrial Average slipped 175.28 points to 52,002.41. The Russell 2000 lost 45.90 points to about 2,721. No closing level for the S&P MidCap 400 was available. Energy, utilities and consumer staples led the gainers. The Cboe Volatility Index rose 3.53 points to 19.99 after touching 22.31 intraday, its highest level since June 11.

The Nasdaq posted its worst week since June, and the S&P 500 recorded its biggest weekly drop since June.

Entegris Watches Fab Activity Signals

The Federal Reserve announces its next rate decision on Oct 28. Warsh declined to preview it at an IMF gathering in Bangkok. "I don't prejudge meetings," he said. The PCE inflation report and the first estimate of third-quarter GDP follow on Oct 29.

Lam Research (NASDAQ:LRCX) and Texas Instruments (NASDAQ:TXN) report Wednesday, Oct 21, after the close, and Western Digital reports Thursday, Oct 22. Intel (NASDAQ:INTC) reports Oct 29. Chip-equipment and semiconductor earnings next week will give fresh evidence on fab activity, a key driver for materials suppliers.