SPRX is trading 4.1% down today as global semiconductor weakness and caution ahead of the Federal Reserve's policy statement weigh on high-growth technology stocks.
- Market sentiment remains defensive due to renewed Middle East tensions and positioning ahead of major Big Tech earnings reports.
- The AI-focused ETF is facing pressure from a broad selloff in chip-related names despite slightly positive Nasdaq futures.
- Investors are closely watching for the 14:00 FOMC statement for further direction on interest rate policy.