SMH3.L is trading at $17.19 (-3.09%) as oil-driven inflation concerns and higher-for-longer rate expectations pressured technology stocks.
- Brent crude moved above $100 on September 9, while rising Treasury yields pressured growth and technology valuations; the Nasdaq Composite fell 0.64%.
- Escalating U.S.-Iran military tension and potential disruption to Middle East energy supplies were the main catalysts, rather than a company-specific semiconductor announcement.
- Broad risk-off pressure and leveraged exposure amplified semiconductor stocks’ downside.