Vanguard Information Technology Index Fund ETF Shares is trading at $116.67 (-5.00%) as stronger-than-expected May jobs data pushed Treasury yields higher and reduced expectations for near-term Fed easing.
- Semiconductors are under significant pressure following a weak post-earnings reaction from Broadcom and a sharp decline in Nvidia, which is amplifying the downward move in tech-heavy funds.
- The decline is being reinforced by a rotation out of high-valuation growth names as Nasdaq futures and the Nasdaq Composite sell off, triggering sector-wide de-risking across the fund's 99% technology exposure.