FTXL is trading down 3.6% at $244.86 as information technology stocks see a broad pullback following recent AI- and semiconductor-driven rallies.
- Profit-taking in high-growth tech and investor caution toward elevated valuations in AI and chip names are driving the sector's underperformance.
- Geopolitical uncertainty following escalations in the Middle East is weighing on market sentiment.
- The move occurs during a session with no major U.S. economic data releases, highlighting a shift in risk appetite for high-growth sectors.