🔴 SPRX is trading 2.4% down today as AI spending concerns and sector rotation pressure tech valuations

SPRX is trading 2.4% down today as investors reassess AI-driven spending and stretched valuations in major technology names.

• The Bank for International Settlements (BIS) recently warned of systemic risks stemming from aggressive investment in AI infrastructure.
• A multi-day rotation out of expensive technology stocks into other market sectors continues to weigh on the IT-heavy ETF.
• While broader indices are up, the information technology segment that dominates SPRX is facing significant downward pressure.