SMH is trading down 1.8% in pre-market action as a global semiconductor rout and shifting macroeconomic expectations weigh on the sector.
- Sentiment is dampened by Samsung’s disappointing financial results and news regarding China’s DeepSeek AI chip development plans.
- Growth-sensitive tech stocks are facing additional pressure from surging oil prices and increased market odds of a September Fed rate hike.
- The decline reflects a broader slide in futures, with investors pulling back from AI-sensitive names ahead of the July 08 opening bell.