SPTE is trading 2.5% down today as the information technology sector digests hawkish interest rate signals and valuation concerns in AI and semiconductor names.

  • Recent selloffs across chipmakers and the broader tech sector on July 16 continue to weigh on sentiment, dragging the ETF lower near the open.
  • The downward pressure persists despite TSMC reporting record earnings and announcing massive U.S. expansion plans to support the long-term AI narrative.