U.S. stocks movement | Semiconductor stocks pull back, Qualcomm plunges over 8%, Direxion 3x Short Semiconductor ETF surges over 9%

```htmlGolden Ten Data, May 12｜As US semiconductor stocks generally pulled back, the Philadelphia Semiconductor Index fell by more than 3%, while the Direxion 3x Short Semiconductor ETF surged over 9%. Regarding individual stocks, Qualcomm plummeted over 8%, Intel, Micron Technology, and ON Semiconductor each dropped over 5%, AMD, NXP Semiconductors, Microchip Technology, and TSMC each fell more than 2%, and Texas Instruments, Broadcom, and Arm were all down over 1%.On the news front, Kim Yong Beom, the Chief Policy Secretary of the South Korean Presidential Office, posted on social media recommending that the South Korean government tax AI profits and distribute the proceeds to all citizens as dividends. These remarks sparked concerns that chip manufacturers might face additional tax burdens, causing South Korea’s benchmark index KOSPI to plunge as much as 5.1% at one point, erasing more than $300 billion in market value. Samsung Electronics and SK Hynix ended down more than 2%.Additionally, renowned investor Michael Burry warned that the current market situation is similar to the peak before the collapse of the internet bubble. Semiconductor stocks have soared recently, with the Philadelphia Semiconductor Index up nearly 70% since the end of March. According to his calculations, the Nasdaq 100 Index currently has a price-to-earnings ratio of about 43 times, far above the "reasonable level" of about 30 times, because “Wall Street is overestimating the profits of the fastest-growing, most highly valued companies by 50%.”```