🔴 Semiconductor ETF (SMH.L) is trading 3.35% down as rising Treasury yields pressure technology valuations

SMH.L is trading at $109.18, down 3.35%, with the move appearing to reflect a reversal from the August 17 AI-led semiconductor rally.

• Overnight Asian technology shares weakened as investors reduced exposure to AI and chip stocks, while geopolitical concerns pushed oil higher.
• Higher Treasury yields pressured growth-stock valuations: the 30-year yield reached 5.31%, highest since 2007; the 10-year yield rose to 4.724%.
• These macro pressures outweighed continued optimism around Anthropic’s strong revenue outlook and AI infrastructure demand.