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Story summary
- Short sellers earned $32 billion in paper gains as semiconductor stocks plunged.
- The Philadelphia Semiconductor Index fell more than 12% and logged an eight-day losing streak, its longest since 2006.
- All but ten SOX components are down 10%.
- Short sellers could earn more than $1 billion betting against CoreWeave as its shares may fall over 20%.
- Credit-default swaps price a greater than 50% chance CoreWeave will default within five years.