🔴 Semiconductor ETF (SMH) is trading 2.4% down in pre-market as Treasury yields pressure tech valuations

SMH is trading at $579.99 (-2.37%) in pre-market as rising Treasury yields pressure high-duration technology valuations.

• The 30-year Treasury yield is 5.31%.
• Renewed uncertainty around U.S.–Iran negotiations and Brent crude above $90 are weakening overnight risk appetite.
• The broader market declined, with the Nasdaq down 0.32% on August 17, indicating a macro-led pullback rather than semiconductor-specific weakness.