iShares Nasdaq Top 30 Stocks ETF is trading 5% down today as its tech-heavy portfolio is pressured by a broad information technology selloff and semiconductor weakness.
- Stronger-than-expected U.S. jobs data has pushed Treasury yields higher and delayed Federal Reserve rate-cut expectations, weighing heavily on long-duration growth assets.
- An ongoing correction in AI and chip stocks following Broadcom’s guidance fallout continues to drag the Nasdaq and key megacap technology names lower.