🔴 Semiconductor ETF (SMH) is trading 3.4% down in pre-market as Lam Research outlook pressures chip stocks

SMH is trading at $537.85 (-3.39%) as semiconductor shares face pressure after Lam Research’s outlook highlighted supply constraints and a sharply lower expected China contribution.

• Renewed concerns about AI spending pressured Asian chipmakers; weaker U.S. futures and higher oil added to risk aversion.
• These sector pressures align with the pre-market decline; weekly U.S. jobless claims are due at 8:30 a.m. ET.