Semiconductor Stocks Live: SMH ETF Down 3.7%, Taiwan Semiconductor (Nasdaq: TSM) and Intel (NYSE: INTC) Down Early
The morning is off to a rocky start for semiconductor stocks, with U.S. stock futures sinking pre-market after Wednesday’s historic rally. The VanEck Semiconductor ETF (SMH), a key barometer for the chip industry, is down 3.75% pre-market as of 8:50 a.m. EDT. The pullback comes as Wall Street digests President Trump’s escalating trade confrontation with […] The post Semiconductor Stocks Live: SMH ETF Down 3.7%, Taiwan Semiconductor (Nasdaq: TSM) and Intel (NYSE: INTC) Down Early appeared first on 24/7 Wall St..
Key Points
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SMH drops 3.75% pre-market as Trump’s 125% China tariffs hit TSM (-1.63%) and Intel (-3.86%).
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Nasdaq futures fall 2.57% after yesterday’s 12.16% rally.
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The morning is off to a rocky start for semiconductor stocks, with U.S. stock futures sinking pre-market after Wednesday’s historic rally. The VanEck Semiconductor ETF (SMH), a key barometer for the chip industry, is down 3.75% pre-market as of 8:50 a.m. EDT. The pullback comes as Wall Street digests President Trump’s escalating trade confrontation with China, casting a shadow over the optimism that fueled yesterday’s surge.
Yesterday, markets soared after Trump announced a 90-day pause on many of the largest U.S. tariff hikes targeting trading partners. The move sparked a massive rally, with the Nasdaq Composite jumping 12.16%—one of the biggest single-day gains since World War II. Semiconductor stocks, sensitive to global trade dynamics, rode the wave higher. But this morning, the mood has shifted. Let’s break down where things stand pre-market as of 8:47 a.m. EDT:
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Nasdaq 100 Futures: Down 2.57%
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S&P 500 Futures: Down 2.07%
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Dow Jones Futures: Down 1.55%
Here’s what’s driving the semiconductor space today.
China Trade Escalation Weighs Heavy
Wednesday’s relief came as Trump paused tariff hikes on most trading partners, but the celebration was short-lived. Overnight, focus shifted to his dramatic escalation with China, where tariffs on Chinese imports were jacked up to 125%—a retaliation to Beijing’s own 84% levy on U.S. goods.
For semiconductor firms, heavily reliant on China for manufacturing and market demand, this is a gut punch. The trade war is now squarely between the U.S and China and neither side is looking to grant concessions but continue to double down and escalate tariff threats.
TSM and Intel Feel the Heat
Taiwan Semiconductor (Nasdaq: TSM) and Intel (Nasdaq: INTC) are taking hits pre-market. TSM, the world’s leading contract chipmaker, is down 1.63% pre-market after closing at $158.75 yesterday. The stock’s sensitivity to U.S.-China tensions is no surprise—Taiwan’s proximity to China and its critical role in global chip production make it a lightning rod for trade fallout.
Intel, meanwhile, is faring worse, dropping 3.86% pre-market from its Wednesday close of $21.53. The American chip giant has struggled to regain its footing amid fierce competition and domestic production challenges. Today’s slide underscores how trade uncertainty is piling pressure on an already battered stock.
The post Semiconductor Stocks Live: SMH ETF Down 3.7%, Taiwan Semiconductor (Nasdaq: TSM) and Intel (NYSE: INTC) Down Early appeared first on 24/7 Wall St..
