US semiconductor stocks have rarely been this volatile: The Semiconductor Index, SOX, has declined -21.8% over the last 5 trading sessions, its largest 5-day decline since September 21st, 2001, following the Dot-Com Bubble burst. This also marks its 3rd-largest 5-day drop on record. Not even 2008 or 2020 saw such large 5-day drawdowns. The ETF's largest 5-day decline was recorded on April 14th, 2000, at -27.1%. On Thursday alone, SOX fell -12.3%, its largest 1-day decline since March 16th, 2020, when the index fell -15.9%. Meanwhile, the 3x leveraged long semiconductor ETF, SOXL, has fallen -60% over the last 5 trading sessions, and is down -86% from its June peak. Volatility of chip stocks is reaching Dot-com-era levels.