Schwab U.S. Large-Cap Growth ETF is trading 1.6% lower today as its tech-heavy portfolio tracks a weak information technology sector and broader Nasdaq softness.
- Higher-for-longer rate expectations after a strong May jobs report continue to pressure growth valuations, which disproportionately hits large-cap tech and communication services.
- With the S&P 500 and Nasdaq both in the red and risk appetite softer, investors are rotating toward more defensive areas, weighing on the fund's largest sector weights in information technology and related growth names.