🔴 Wahed FTSE USA Shariah ETF is trading 1.5% down today as tech and AI names face renewed selling

Wahed FTSE USA Shariah ETF is trading 1.5% down today as its tech-heavy portfolio is hit by renewed selling in growth and AI names following last week’s rate-shock selloff.

• Information technology is underperforming the broader market, with the Nasdaq dropping more than the S&P 500.
• Investors are rotating into defensive areas as expectations for higher-for-longer interest rates from the Fed persist.
• The selloff continues despite some isolated positive catalysts, including news regarding NVIDIA’s expansion.