SMH3.L is trading at $19.87, with a -3.29% move on September 23, 2026, as renewed crude-oil inflation concerns and higher Treasury yields pressure semiconductor stocks, despite resilient AI-infrastructure demand.
- Brent is near $100.55, while the 10-year Treasury yield reached 4.99%, raising discount rates for high-growth technology stocks.
- The Nasdaq Composite is down 1.05% as investors await September flash PMI data and Fed commentary.
- The leveraged 3x structure magnifies the underlying semiconductor-sector weakness.