SMH is trading at $597.75 (-2.17%) amid a broad global chip selloff and profit-taking following a sustained AI-led rally.
- The semiconductor sector is under pressure following sharp declines in South Korean chipmakers and a 1.27% drop in Nasdaq futures, which is weighing on growth-sensitive names.
- With no major U.S. economic releases scheduled for July 13, the move appears driven by sector rotation and overnight market sentiment rather than fresh domestic data.