State Street SPDR S&P 500 ETF Trust is trading 1.1% down today as investors rotate out of richly valued technology and AI-linked names following a steep post-earnings selloff in Broadcom.

  • Broadcom's decline is dragging the broader semiconductor and growth complex lower, impacting tech-heavy segments.
  • Fresh U.S. jobs data released at 8:30 AM EST is reshaping Federal Reserve rate cut expectations, pressuring long-duration growth stocks.
  • The prevailing risk-off tone has caused the index to underperform more value-oriented market segments.