🔴 Semiconductor ETF (SMH) is trading 4.57% down in pre-market as Intel plunges 23% on weak Q4 outlook

SMH is trading at $536.22, down -4.57% in pre-market as Intel’s weak fourth-quarter outlook and AI-spending concerns pressure chip stocks. - Intel plunged 23% after hours following its weak fourth-quarter outlook. - Concerns that heavy AI infrastructure spending may not deliver adequate returns are driving investors out of technology and semiconductor stocks. - Nasdaq futures fell 2.2%; no major U.S. economic indicators are scheduled for October 30.