🔴 SMH3.L is trading 7.5% down today following TSMC earnings and sector-wide profit-taking

SMH3.L is trading 7.5% down today as part of a broad semiconductor and AI-stock pullback that has hit high-beta technology assets.

• The decline follows TSMC’s record earnings and significant capex hike, which paradoxically triggered widespread profit-taking and valuation concerns across the chip sector.
• Rising geopolitical tensions and interest rate worries are adding further pressure to the industry as investors rotate out of high-growth names.
• The leveraged nature of the fund is amplifying losses as the broader semiconductor index faces its sharpest retreat in recent weeks.