HLAL is trading 2.4% down today, largely reflecting continued weakness in the information technology sector and cautious risk sentiment regarding AI infrastructure costs.
- Major tech holdings such as Apple and Microsoft are trading lower following concerns over margins and recent price hikes, dragging down tech-heavy indices.
- Stretched valuations and a rotation from growth and technology stocks into industrial and value sectors are weighing on the fund's performance.
- Pre-market futures show the Nasdaq down notably as investors react to the rising costs associated with AI scaling.