🔴 Tech ETF (SOXQ) is trading 2% down in pre-market as elevated yields pressure chip shares

SOXQ is trading at $100.74, down 1.98%, as broad-market weakness and a rate-sensitive technology selloff weigh on semiconductor shares.

• Treasury yields near multi-decade highs are pressuring rate-sensitive technology and semiconductor shares.
• Oil near $100 and renewed Strait of Hormuz tensions are reviving inflation and rate-hike concerns.
• Semiconductor shares weakened Wednesday, and broad U.S. futures are lower pre-market. Jobless claims are due at 8:30 a.m. ET.