🔴 Fidelity MSCI Information Technology Index ETF is trading 5.8% down today on higher-for-longer Fed fears and AI profit-taking

Fidelity MSCI Information Technology Index ETF is trading 5.8% down today as higher-for-longer Fed expectations pressure long-duration growth valuations and trigger a broad risk-off move across the information technology sector.

• Mega-cap tech and AI leaders are experiencing a sharp reversal, compounded by volatility in global semiconductor names following a significant chip-led selloff in Korea.
• With the Nasdaq dropping over 3%, the ETF is seeing heavy profit-taking in growth assets after its recent market rebound.