SMH is trading 1.8% down as a global semiconductor rout extends a multi-day decline, driven by mounting concerns over AI infrastructure spending and rising Chinese competition.
- Sharp losses in Asian chipmakers like Samsung and SK Hynix are dragging down U.S. equities including Micron, AMD, and Intel.
- Risk appetite for expensive AI-related stocks remains weak amid geopolitical tensions in the Middle East and caution ahead of the Federal Reserve meeting.