🔴 Semiconductor ETF (SMH) is trading 1.72% down in pre-market as elevated Treasury yields pressure tech valuations

SMH is trading 1.72% down in pre-market as elevated long-term Treasury yields pressure high-duration technology valuations.

• Overnight selling concentrated in memory and AI-infrastructure stocks, including Micron, SanDisk, SK hynix, and Marvell; broader Nasdaq futures declined.
• Positioning ahead of NVIDIA results and cautious risk sentiment amplified sector weakness; NVIDIA held relatively better than suppliers.
• No major U.S. release is scheduled for August 24, 2026; attention remains on rates, geopolitical risks, and upcoming growth and inflation data.