Fidelity MSCI Information Technology Index ETF is trading 1.6% down today as investors continue to pare back exposure to high-growth, AI-linked names following several days of elevated volatility and drawdowns in semiconductors and mega-cap tech.
- The broader market is under pressure following hotter-than-expected CPI data and lingering geopolitical risks.
- The Nasdaq is currently underperforming the S&P 500, which is amplifying downside momentum for concentrated technology vehicles like FTEC.