🔴 SP Funds S&P Global Technology ETF is trading 2% down today on renewed Fed rate-hike fears following strong jobs data

SP Funds S&P Global Technology ETF is trading 2% down today as investors continue to digest a sharp technology and semiconductor selloff sparked by the May 2026 U.S. jobs report.

• Renewed Fed rate-hike fears and higher-for-longer yield expectations are weighing heavily on growth and AI-related tech, dragging the broader information technology sector lower.
• The downturn follows a late-week rout where the Nasdaq dropped over 4% and semiconductor stocks lost approximately $1.3 trillion in market value.