CHIP.SW is trading 3% down today as investors rotate out of richly valued semiconductor names amid a reassessment of aggressive AI-related capital spending and fresh U.S. tariff risks.
- Fresh U.S. tariffs on major trading partners and a global risk-off tone toward cyclical exporters are weighing heavily on the semiconductor sector.
- Sharp declines in Asian memory-chip leaders highlight broader worries regarding AI infrastructure financing and rising competition from China.