🔴 Silicon Motion Technology is trading 12.51% down today amid concerns AI rules could slow chip demand

Silicon Motion Technology is trading at $160.91, down 12.51%, as semiconductor shares sell off amid concerns tighter AI and data-center rules could slow construction and chip demand.

• Qualcomm’s weak handset outlook added pressure across chip stocks.
• The S&P 500, Nasdaq Composite, and Dow were also sharply lower.
• No company-specific negative announcement was identified for November 5.