🔴 Semiconductors ETF (SMH3.L) is trading 5.7% down today as surging Treasury yields pressured tech valuations

SMH3.L is trading at $19.19, down 5.67%, as higher yields reduced the appeal of long-duration technology valuations.

• September 24’s stronger-than-expected U.S. PMI pushed the 10-year Treasury yield to approximately 5.11%–5.14%, its highest level since 2007, while markets increased expectations for an October Fed rate hike.
• Rising oil prices and a broad Nasdaq-led risk-off move added pressure. As a 3x leveraged long semiconductor product, SMH3.L amplifies underlying sector declines.