SMH3.L is trading 9.9% down today as it amplifies recent weakness in the semiconductor segment following new trade restrictions and tech sector earnings.
- Fresh U.S. tariffs on major trading partners have pressured global supply chains, weighing heavily on the underlying semiconductor index.
- Broader investor caution has emerged after Alphabet’s heavy infrastructure spending raised concerns regarding capital intensity and the timeline for AI returns.
- As a 3x leveraged ETP, the fund is experiencing magnified losses relative to the standard semiconductor benchmark.