iShares Semiconductor ETF is trading 2.4% lower in pre-market following a sharp semiconductor selloff triggered by Broadcom’s disappointing AI revenue outlook and profit-taking in high-valuation chips.
- The downturn in the semiconductor space has pressured the broader information technology sector and Nasdaq futures.
- Traders remain cautious ahead of the U.S. Employment Situation report at 08:30 EST, as higher yields drive a rotation from growth-oriented tech into value and industrial sectors.