Why VanEck Semiconductor ETF (SMH) fell 3.70%
VanEck Semiconductor ETF (SMH) fell 3.70% on November 13, 2026 — Chip selloff as Nvidia's slide drags semis lower.
What happened
The VanEck Semiconductor ETF fell 3.7% as chipmaker weakness, led by Nvidia's slide, dragged the S&P 500 and Nasdaq lower. The drop was a sector-wide move, not a single-name event.
Why it moved
SMH is a basket of the largest chip names, so it moves with its heaviest holdings. When Nvidia slides and the leaders fall, the index follows.
Why it matters
SMH is the cleanest read on the Chip Supply Chain theme, the broad-semis exposure to the AI-capex wave. Today's drop marks a pullback in that trade.
What would break the thesis
Watch whether Nvidia stabilizes, since a recovery in the top holdings would lift SMH quickly. Further weakness in the leaders would confirm the theme is rolling over.