🔴 Invesco PHLX Semiconductor ETF is trading 5.2% down today on higher-for-longer rate fears and tech weakness

Invesco PHLX Semiconductor ETF is trading 5.2% down today as higher-for-longer rate fears and renewed tech weakness hit growth stocks.

• The information technology sector is under significant pressure, with the Nasdaq Composite down over 2%, amplifying the downside in semiconductor and AI names.
• Recent macro data, including a strong May jobs report, has boosted expectations of a future Fed rate hike and driven a broad repricing of growth assets.