🔴 Tech ETF (XLK) is trading 1.5% down today as Warsh’s hawkish inflation stance lifts rate expectations

XLK is trading 1.5% down today as investors reduce risk ahead of Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks.

• Warsh’s hawkish inflation stance pushed rate expectations higher, pressuring growth stocks.
• Semiconductor weakness is adding to the decline: Marvell fell sharply after investors questioned when its Google AI agreement will materially contribute to revenue.
• The sector-wide retreat follows the August 27, 2026 technology rally; Nasdaq Composite is down 0.51% and broader equities are lower. [Event ID: 6a91c0579fa5ca270b7ef072]