iShares Expanded Tech-Software Sector ETF is trading 3.3% down today as investors rotate out of high-valuation growth and AI beneficiaries following a volatile week for software names.
- Traders appear to be locking in recent gains in software and cloud sectors, signaling a sector-specific cooldown rather than a systemic risk-off move for the broader market.
- Software and cybersecurity stocks are seeing heavy profit-taking, while position-trimming ahead of the Services PMI release weighs on long-duration, rate-sensitive technology shares.