State Street Technology Select Sector SPDR ETF is trading 1.5% down in pre-market as investors extend the rotation out of expensive growth and AI beneficiaries following recent semiconductor disappointment and rising-rate worries.

  • Broadcom’s post-earnings selloff and continued weakness in AI chips are pressuring the tech sector.
  • Nasdaq futures show a risk-off tone ahead of the U.S. jobs report, with capital shifting into more defensive and value-oriented areas.