USD is trading 3.3% lower in pre-market, reflecting choppy sentiment across high-beta chip and technology names.
- Weakness in mega-cap tech stocks like Meta and Microsoft is weighing on the sector, offsetting gains seen in several semiconductor equipment makers.
- Leveraged semiconductor exposure remains under pressure due to recent volatility in memory chips and broader uncertainty regarding interest rates and inflation.
- The decline follows an outsized rally last week, as investors reassess positions in high-growth, high-beta assets amid a mixed macroeconomic backdrop.