XLG is trading 1.6% down today as its heavy information technology weighting faces pressure from a broad tech rout and concerns over stretched AI-related valuations.
- Sector sentiment worsened after Accenture cut its outlook due to weak IT spending, triggering a selloff across IT consulting and enterprise technology firms.
- The decline follows a sharp semiconductor-driven correction in Asian markets and rising interest rate expectations, weighing on global tech sentiment.