🔴 iShares Expanded Tech-Software Sector ETF is trading 1.8% down today as investors reassess AI spending after Oracle's plunge

iShares Expanded Tech-Software Sector ETF is trading 1.8% down today as investors reassess AI-related spending and valuations following Oracle’s aggressive cloud/AI capex plan and subsequent stock plunge earlier in the week.

• The move reflects a rotation out of higher-multiple software and AI beneficiaries, weighing heavily on software-focused funds even as the broader market remains mixed.
• Lingering concerns about elevated inflation and tighter global monetary policy, highlighted by recent U.S. CPI and PPI surprises and the ECB rate hike, are further pressuring long-duration growth assets like software stocks.