SP Funds S&P Global Technology ETF is trading 3.4% down today as investors rotate away from expensive technology names following Broadcom’s AI guidance disappointment, which triggered a sharp semiconductor-led selloff.
- The tech-heavy decline has dragged the Nasdaq lower, leaving information technology shares underperforming the broader market despite lower yields and strength in value and industrial sectors.
- Growth stocks are facing additional pressure as traders exercise caution ahead of the June 5, 2026, U.S. payrolls report, leading to a reassessment of Federal Reserve policy timing.