🔴 SMHX is trading 2.25% down in pre-market as rising Treasury yields pressure semiconductor stocks

SMHX is trading 2.25% down at $59.00 after renewed pressure on high-valuation semiconductor and AI-linked assets.

• The move follows the September 23 selloff, when stronger-than-expected PMI data pushed the 10-year Treasury yield above 5.1%, its highest level since 2007.
• Reuters and CNBC linked the broader equity decline to surging yields and rate-hike expectations.