SMH3.L is trading at $24.05 (-4.34%) amid a broader semiconductor and technology risk-off backdrop, as markets react to disappointing mega-cap earnings and higher Treasury yields.
- The sharp tech-led selloff was triggered by disappointing results from Alphabet and Tesla, which prompted investors to reassess AI spending and growth valuations.
- Broader Nasdaq weakness and elevated geopolitical risks are weighing on high-beta growth assets, leading to outsized daily swings for leveraged instruments like SMH3.L.