SMH is trading at $546.87, down -3.49%, as hotter-than-expected September CPI revived fears of higher-for-longer rates, weighing on chip and other growth stocks.

  • The Philadelphia Semiconductor Index fell 4.30% in the prior session.
  • Investors are questioning returns on AI infrastructure spending as borrowing costs rise.
  • Asian chipmakers also plunged, adding pressure across the global sector.