USD is trading at $81.70, down 4.65% from its previous close, as a global semiconductor selloff and rising Treasury yields pressure the leveraged technology-focused ETF.
- The decline follows a sharp multi-day slide in chip stocks, exacerbated by Samsung’s disappointing results and intensifying competition in the Chinese AI-chip market.
- Broad market sentiment is further dampened by rising odds of a Federal Reserve rate hike, which is driving yields higher and weighing on tech-heavy Nasdaq futures.