SOXQ is trading at $100.98, down 1.75%, as higher Treasury yields and a hawkish read of Fed minutes pressure rate-sensitive technology and semiconductor shares.

  • The 10-year yield was near 5.34%, while the minutes reinforced expectations that rates could rise further.
  • Oil jumped amid renewed Middle East and Strait of Hormuz supply concerns, adding to inflation worries.
  • Chip shares were broadly weak pre-market, including Nvidia, Broadcom, and Micron.