SPTE is trading 1.8% down today as the information technology sector lags the broader market amid ongoing concerns regarding AI-related capital spending and chip demand.
- Investors are rotating toward cyclical and defensive sectors while the technology sector consolidates following recent volatility.
- Macroeconomic uncertainty surrounding tariffs, Federal Reserve rate expectations, and durable goods data is adding pressure to growth-oriented technology names.
- The decline comes despite a general improvement in risk sentiment driven by falling oil prices.