FTXL is trading 4.4% down today as investors extend a multi-day rotation out of semiconductor and AI stocks.
- The ETF is under pressure from concerns regarding stretched AI valuations, massive new chip capital expenditure plans, and rising geopolitical risks.
- Broader tech sentiment is being weighed down by interest rate concerns, specifically impacting high-valuation chip names within the information technology sector.
- Today's risk-off mood follows a decline in sector ETFs and tech indices during the prior session, dragging the fund lower.