PWB is trading 2.5% down today as its heavy information technology exposure tracks a sharp sector pullback driven by AI valuation concerns and hawkish Fed signals.

  • Heavy profit-taking in AI-related chipmakers followed TSMC’s capex surge, pressuring growth multiples and tech-heavy ETFs.
  • Hawkish commentary from Fed officials regarding rate hikes and rising U.S.–Iran geopolitical tensions are further weighing on sentiment.
  • The fund's information technology exposure (51.3% of the ETF) makes it particularly sensitive to the current sector-wide volatility.