IVV is trading lower at $742.87 (-1.16%) as the S&P 500 pulls back from record highs, reflecting broad risk-off sentiment after a powerful recent rally.
- Hotter inflation and resilient retail sales earlier in the week have reinforced higher-for-longer rate expectations, pressuring long-duration growth names.
- Tech and communication services—together nearly half of IVV—are leading declines as investors rotate away from richly valued AI and growth stocks toward more defensive and energy-linked areas.