More than 60% of S&P 500 Information Technology sector stocks have plunged over 20% from their 52-week highs.

Glonghui, July 9 — Market analyst Mike Zaccardi pointed out on the X platform that more than 60% of the stocks in the S&P 500 Information Technology sector have fallen over 20% from their 52-week intraday highs. This data is also confirmed by Dow Jones Market Data. According to some definitions, these stocks can already be considered to have entered a "bear market." Large semiconductor stocks have been hit particularly hard. Micron Technology's share price has dropped 25% from recent highs, Broadcom has fallen 21%, and Marvell Technology has plunged 30%.