SPRX is trading at $39.19 (-7.09%) as technology shares face pressure from a sell-off in chip stocks driven by AI-spending concerns and a weaker risk appetite.
- The sector is being hit by a broader NASDAQ decline as megacap tech stocks rotate lower.
- Weakness in NVIDIA is spilling into semiconductor-linked ETFs following warnings about heavy AI capital expenditures and competition from China.
- The move aligns with a wider risk-off tone in equities, even as lower oil prices support other market sectors.