🔴 Semiconductor ETF (SOXS) is trading 4.88% down as chip shares rebound

SOXS is trading at $50.84, down 4.88%, as a rebound in chip shares weighs on the inverse semiconductor ETF.

• The move follows SOXS’s 20.68% gain on October 22.
• The prior session’s semiconductor selloff was led by Lam Research, whose cautious outlook intensified concerns about returns on AI spending.
• Some chip equipment shares are recovering, while modestly positive Nasdaq futures may also pressure SOXS. Broader risks include higher oil prices and Middle East tensions.