SMH is trading at $615.47 (-1.53%) as Brent crude’s sharp rise amid renewed Iran-conflict concerns and 10-year Treasury yields around 5.32% weigh on risk appetite and growth-sensitive technology shares.
- Semiconductors are extending a pullback after recent gains; the Philadelphia Semiconductor Index fell 1.2% on Wednesday as yields touched a multi-decade high and Fed minutes pointed to possible further tightening.
- The broader market is softer, consistent with macro-driven pressure rather than a single SMH holding catalyst.