🔴 Semiconductor ETF (SMH) is trading 3% down today as oil nears $90, Treasury yields climb

SMH is trading at $576.12 (-3.02%) as fading U.S.-Iran peace prospects push oil toward $90 and long-term Treasury yields to multiyear highs, increasing inflation and valuation pressure.

• The decline is sector-wide: Micron, Marvell, AMD, and Intel fell between 2.6% and 4.8% in premarket trading.
• Concerns about financing and returns on massive AI infrastructure spending add pressure despite NVIDIA’s Ohio data-center announcement.