USD is trading at $83.95 (-3.94%), extending the semiconductor sector’s August 18 selloff.
- The Philadelphia Semiconductor Index fell nearly 5%; Nvidia, Micron, AMD, and other chip stocks dropped sharply amid valuation concerns and rising long-term Treasury yields.
- Higher oil prices linked to renewed U.S.-Iran tensions are reinforcing inflation and interest-rate concerns as investors await the Federal Reserve’s July meeting minutes; USD’s daily 2x leverage amplifies the underlying semiconductor decline.