Shares of semiconductor and chip companies are trading lower as hotter-than-expected inflation data and hawkish comments from Fed Waller reinforce concerns that interest rates could remain elevated for longer. Rising Treasury yields are putting additional pressure on growth-oriented technology stocks, while elevated borrowing costs could weigh on valuations and investor appetite for AI-related investments.

Shares of semiconductor and chip companies are trading lower as hotter-than-expected inflation data and hawkish comments from Fed Waller reinforce concerns that interest rates could remain elevated for longer. Rising Treasury yields are putting additional pressure on growth-oriented technology stocks, while elevated borrowing costs could weigh on valuations and investor appetite for AI-related investments.