SMH.L is trading 4.10% down today, closing at $119.68 as the semiconductor sector undergoes a sharp reversal following a significant +5.76% gain in the previous session.
- The decline aligns with a broader technology pullback driven by risk-off sentiment and concerns over elevated valuations in AI-related stocks.
- Renewed geopolitical and macroeconomic uncertainty has further pressured key chip names, reversing recent momentum in the sector.