July 16, 2026, 4:42 p.m. ET
The S&P 500 has been treading water for more than a month now, but beneath the surface of the U.S. equity market, big changes are taking shape.
A vicious unwind of the market’s hottest momentum trades has hammered investors, particularly those who favored using leveraged ETFs and options to amp up their bets on highflying semiconductor names like Micron Technology
MU, and ETFs like the Roundhill Memory ETF DRAM. In the U.S. and South Korea, semiconductor stocks have slumped.
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