SMH is trading 1.6% down today as hotter-than-expected April CPI data at 3.8% YoY dampens investor hopes for Federal Reserve rate cuts.
- A potential labor strike at Samsung scheduled for May 21 threatens $20 billion in AI chip production, adding significant supply chain pressure to the semiconductor industry.
- Rising geopolitical tensions in the Middle East are driving up oil prices and Treasury yields, creating a challenging environment for high-growth technology stocks.