🔴 Silicon Motion Technology is trading 5.1% down today following a broad sell-off in tech and semiconductor shares

Silicon Motion Technology is trading 5.1% down at $246.46 amid a renewed sell-off in technology and semiconductor shares following Tuesday’s sharp reversal in U.S. tech stocks.

• Pre-market pressure is being driven by weaker risk sentiment ahead of key U.S. CPI data, with Nasdaq futures down over 1% and broader chip names underperforming.
• The downward move appears to be macro and sector-driven, as there is no fresh company-specific news reported this morning.