iShares Semiconductor ETF is trading 5.5% down today as the information technology sector sells off amid renewed higher-for-longer interest rate concerns and a broader risk-off move in U.S. equities.
- Semiconductor and broader tech shares are under pressure following last week’s jobs-driven spike in rate-hike odds.
- Today’s international trade data, coupled with lingering geopolitical and Asian chip-market stresses, is further weighing on rate-sensitive growth names.