🔴 Semiconductor ETF (SMH.MI) is trading 8% down after Intel’s weak outlook and AI spending doubts

SMH.MI is trading at €86.19, down 8.00%, after Intel’s weak outlook and doubts about the payoff from massive AI infrastructure spending drove a semiconductor selloff.

• Alphabet’s earnings concerns and Amazon’s results added pressure as chipmakers broadly fell.
• The Philadelphia Semiconductor Index dropped 7.2% on October 30.
• For November 2, market context points to modestly higher futures; the ETF decline appears tied more to the preceding sector rout than to a confirmed new catalyst today.