SOXX breaks its floor on FOMC day — the sell-off spares only the testers

BOARD The board: the handoff, priced at ETF level

Semis −4% across the complex — SMH −4.1%, XSD −4.4%, SMHX (fabless) −3.2% — with the physical build sold alongside: data centres (DTCR) −2.8%, grid (GRID) −3.1%, nuclear (NLR) −3.1%. Against that, the layer that rents the build is green: CLOU +2.3%, IGV +0.6%, FDN +0.1%. One board, both sides of the capex→opex handoff.

LEVEL SOXX 468 — through the floor

SOXX trades 468, down 4.7%, through the 480.50 flush-low that held Monday's crash — the line this morning's edition called the whole floor. A break printed hours before an FOMC decision is provisional by construction: the only score that counts is the close against 480.50, after the presser, before the prints.

DOWN Memory and equipment carry the third leg

MU −6.1%, Lam Research −6.3% into its own print tonight, NVDA −2.8%, Broadcom −1.9% — Korea's second crash crossed the Pacific into memory and equipment, exactly where the Hynix print said the repricing lives. Nebius −10.2% extends it to the neocloud financing layer — a funding-side name selling harder than the chipmakers.