  We consider a semiconductor quantum-well placed in a wave guide microcavity
and interacting with the broadband squeezed vacuum radiation, which fills one
mode of the wave guide with a large average occupation. The wave guide modifies
the optical density of states so that the quantum well interacts mostly with
the squeezed vacuum. The vacuum is squeezed around the externally controlled
central frequency $\om_0$, which is tuned above the electron-hole gap $E_g$,
and induces fluctuations in the interband polarization of the quantum-well. The
power spectrum of scattered light exhibits a peak around $\om_0$, which is
moreover non-Lorentzian and is a result of both the squeezing and the
particle-hole continuum. The squeezing spectrum is qualitatively different from
the atomic case. We discuss the possibility to observe the above phenomena in
the presence of additional non-radiative (e-e, phonon) dephasing.
