🔴 SOXQ is trading 2.1% down today on semiconductor selloff and hawkish Fed expectations

SOXQ is trading 2.1% down in pre-market as a broader semiconductor selloff and rising interest rate concerns weigh on high-growth tech valuations.

• Disappointing Samsung results and renewed competition in China's AI chip market triggered an overnight rout in the semiconductor sector.
• Nasdaq futures are weakening as investors anticipate hawkish FOMC minutes, increasing the odds of a Federal Reserve rate hike.
• The decline marks a continuation of a multi-day drawdown for AI-related names and the broader information technology sector.