FTEC is trading at $270.00 (-2.12%) as the information technology sector faces pressure from a sharp overnight reversal in semiconductor stocks and a broader rotation into value-oriented sectors.
- Nasdaq-100 futures are down 1.03% following a risk-off move in growth shares and a sharp overnight sell-off in Asian semiconductor markets.
- While Micron’s earnings initially provided a boost, sentiment soured over stretched valuations and concerns regarding the high costs of AI infrastructure.
- Investors are shifting capital away from technology, favoring industrials and consumer stocks as the prior session's rotation continues.