IYW is trading at $248.46, down 1.89% from its September 11 close of $253.25, as a broad technology-led risk-off move reflects investors reassessing AI valuations after weekend calls for slower AI development.
- Nasdaq futures fell 1.77%; rising oil prices and expectations for tighter Federal Reserve policy are pressuring growth stocks.
- The move appears sector-wide, with information technology representing 83.9% of IYW; higher energy costs, geopolitical supply concerns, and weaker AI sentiment weigh on technology shares.