🔴 iShares Expanded Tech-Software Sector ETF is trading 1.8% down today after hawkish Fed signals hit software and cloud stocks

iShares Expanded Tech-Software Sector ETF is trading 1.8% down today as higher-duration software and cloud names sell off following the Federal Reserve’s hawkish policy update.

• The Fed kept rates unchanged but removed expectations for 2026 cuts and emphasized that the next move could be a hike, pressuring growth and AI-related tech.
• Broader indices are also lower, with the Nasdaq underperforming as investors rotate away from expensive software and AI beneficiaries amid rising rate and inflation concerns.