SMH is trading 1.6% down today, extending pressure from a two-day global technology selloff and lingering concerns regarding AI-sector valuations.
- Sentiment remains cautious following Accenture’s weaker IT spending outlook, which has dampened expectations across the semiconductor industry.
- The decline follows a sharp rout in megacap tech shares worldwide, leaving the information technology sector under pressure even as broader U.S. indices begin to stabilize.