The technology sector is trading lower, led by continued weakness in semiconductor and memory-chip stocks amid concerns about stretched valuations after a prolonged AI-driven rally. Reports indicate a sell-off in chipmakers, with some investors questioning how much of the future demand for AI infrastructure has already been priced into current stock values. This sector-specific pressure comes despite recent cooler-than-expected inflation data and as the market awaits key economic data on retail sales and jobless claims.