SMH.L is trading at $106.50, down 5.72%, as Treasury yields pressure high-valuation growth stocks.

  • The move follows a broad semiconductor and AI-stock retreat; the 30-year yield is near 5.32%.
  • Philadelphia Semiconductor Index fell about 3.7%; Nvidia fell roughly 2.3% and Micron about 7%, with other chipmakers down sharply amid profit-taking and valuation concerns, pressuring semiconductor ETFs.
  • Middle East uncertainty lifted oil prices and inflation worries, reducing technology-share risk appetite; the move is sector-wide, not company-specific.