Why VanEck Semiconductor ETF (SMH) fell 3.33%
VanEck Semiconductor ETF (SMH) fell 3.33% on October 29, 2026 — Amazon, Intel slumps weigh on semis broadly.
What happened
The VanEck Semiconductor ETF fell about 3.3% in a broad tech selloff. The move followed Nasdaq-100 futures falling as Amazon and Intel swooned after earnings.
Why it moved
SMH holds a basket of large semiconductor stocks, so it reflects the group's reaction to Intel's weak guidance. Its decline is the sector's shared response, not a reaction to a single event within the fund.
Why it matters
SMH is a broad read on the Chip Supply Chain theme, so it captures sentiment across the whole chip group. A sector-wide repricing like this one tests how durable the group's rally is.
What would break the thesis
A rebound in mega-cap tech would likely lift SMH back quickly, since its holdings are concentrated in the largest chip names. A renewed guidance cut from a major chip company would extend the decline.