FTEC is trading 2.4% down today as information technology shares extend a broad downturn following a reassessment of semiconductor and AI valuations.
- Investors are weighing TSMC’s record profits and massive capex plans against lofty sector valuations, leading to a continued sell-off in the semiconductor and AI space.
- Hawkish Federal Reserve commentary and escalating U.S.-Iran geopolitical tensions are pressuring risk appetite for growth stocks, pulling the Nasdaq and tech-heavy indices lower.