Defiance AI & Power Infrastructure ETF is trading 5% down today as investors accelerate a rotation out of high-valuation AI and growth stocks following Broadcom’s underwhelming AI guidance and persistent semiconductor weakness.
- A stronger-than-expected May jobs report has reinforced expectations for higher-for-longer interest rates, creating additional headwinds for AI-linked themes and risk assets.
- Although the fund is composed of 55% industrials, its significant technology tilt is dragging the basket lower in tandem with a broader Nasdaq selloff.