🟢 Semiconductor ETF (SOXS) is trading 4.78% up in pre-market as CXMT progress heightens chip competition fears

SOXS is trading at $38.97, up 4.78%, as concerns about Chinese chipmaker CXMT’s progress in denser memory-chip technology intensified competition worries.

• Asian chipmakers sold off sharply; South Korea’s KOSPI was down more than 6%.
• U.S. chip stocks and Nasdaq futures weakened as investors questioned returns on AI infrastructure spending and elevated valuations.
• The decline extends sector losses; SOXS closed at $37.19, up 8.14%, on October 12.