🔴 SMH.MI is trading 5.1% down today on AI spending concerns and trade uncertainty

SMH.MI is trading sharply lower, down 5.1% to €89.10, as semiconductor sentiment is pressured by concerns over heavy AI capital spending and trade policy uncertainty.

• Sentiment is being weighed down by massive AI-related capital expenditures at major platforms like Alphabet, impacting high-growth, chip-linked names.
• Lingering trade and tariff uncertainty continues to pressure the semiconductor sector, causing the ETF to significantly underperform a mostly flat-to-mixed broader equity market.