🔴 State Street Technology Select Sector SPDR ETF is trading 2.5% down today on rotation to value and semiconductor profit-taking

State Street Technology Select Sector SPDR ETF is trading 2.5% down today as investors rotate out of growth and AI-linked technology names into value and industrial sectors.

• The decline follows a post-earnings selloff in Broadcom and broader profit-taking across the semiconductor space.
• Higher Treasury yields and persistent doubts regarding the pace of Federal Reserve rate cuts are weighing on long-duration tech valuations.
• The tech-heavy selloff occurs even as the Dow Jones Industrial Average rises, highlighting a distinct shift toward cyclical stocks.