🔴 State Street Technology Select Sector SPDR ETF is trading 3.1% down today on a semiconductor-led rotation out of growth and AI leaders

State Street Technology Select Sector SPDR ETF is trading 3.1% down today as investors rotate out of expensive growth and AI leaders following a sharp selloff in the semiconductor sector.

• Broadcom’s post-earnings decline and broader weakness in chip stocks are weighing heavily on the sector.
• Concerns regarding high valuations and interest-rate uncertainty are driving profit-taking in mega-cap technology names.
• The Nasdaq and technology sector are notably weaker compared to a relatively resilient Dow Jones Industrial Average.