SPTE is trading 2.4% down as the information technology sector faces a broad risk-off move and a rotation out of expensive AI and growth names into defensive sectors.
- Major indices including the Nasdaq Composite and S&P 500 are under pressure as investors shift capital toward industrial and defensive equities.
- Market sentiment is being weighed down by concerns over rising AI infrastructure and memory costs, alongside profit-taking following recent gains in chipmakers like Micron and IBM.