XLK is trading at $181.40 (-1.51%) as technology shares face pressure from a broader AI and semiconductor selloff that intensified on June 23 and continued into June 24.
- Investor caution ahead of Micron Technology’s earnings is weighing on the sector, with markets treating the report as a key test for AI-related spending and valuations.
- The weakness tracks a broader risk-off rotation out of growth stocks, with tech acting as the main drag on major indices like the Nasdaq while the Dow remains relatively stronger.