🔴 Semiconductor ETF (SMH) is trading 2% down today as rising bond yields pressure tech stocks

SMH is trading at $545.44 (-2.01%) as a global sovereign-bond rout pushes long-term yields higher, pressuring expensive, rate-sensitive technology stocks.

• The 10-year Treasury yield reached 4.8%, while Japan’s 10-year yield hit 3%, intensifying risk-off positioning.
• Renewed U.S.-Iran tensions and oil above $91 are adding inflation concerns, increasing fears that higher rates could persist.
• NVIDIA, AMD, and Micron were also down over 1% in premarket trading.