TECL is trading at $173.69 (-5.27%) as the information technology sector faces significant pressure from a broad risk-off move and rising Treasury yields.
- Growth names and AI-linked semiconductor shares are leading the decline following hawkish Fed remarks and a higher capex outlook from TSMC.
- Macroeconomic headwinds, including geopolitical tensions and rising oil prices, are accelerating a defensive rotation out of high-valuation tech valuations.
- Weakness in Asian markets and lower Nasdaq futures are further weighing on the sector's performance.