StocksMedium•13 October 2026•
1 min read
Semiconductor Selloff Weighs on Markets as US Banks Enter Correction Territory
Key Facts
1The selloff in semiconductor stocks extended, putting significant pressure on broader equity markets.
2Major US banking stocks have entered correction territory ahead of their upcoming earnings reports.
The selloff in semiconductor stocks extended, putting significant pressure on broader equity markets. According to reports cited on YouTube, major US banking stocks have entered correction territory as they approach their upcoming earnings release dates.
Banking instruments saw broad declines, with JPM closing at $334.3 and GS closing at $893.95 on October 12, 2026. On the same date, C closed at $131.93 and WFC closed at $83.32, reflecting weakened sentiment as the market prepares for the Q3 earnings season.