🟢 SOXS (SOXS) is trading 5.2% up in pre-market as Treasury yields pressure semiconductor stocks

SOXS is trading at $35.40, up 5.17%, as semiconductor shares weaken amid renewed rate and valuation pressure.

• September 23’s stronger-than-expected PMI lifted the 10-year Treasury yield toward 5.12%, while markets increased October rate-hike expectations, weighing on high-growth technology stocks.
• Semiconductor weakness and lower Nasdaq futures are supporting the inverse ETF. The Philadelphia Semiconductor Index reportedly fell about 1.19% overnight.