Fidelity MSCI Information Technology Index ETF is trading 1.6% down today as investors reassess growth valuations amid restrictive Fed expectations and profit-taking in megacap tech and AI leaders.
- Sector sentiment is being pressured by global chip volatility and the recent semiconductor-driven rout in South Korea.
- The decline follows a sharp rebound in prior sessions, with markets reacting to recent rate-hike repricing.
- While broader indices are mixed, technology-focused growth assets are facing headwinds following last week's Nasdaq selloff.