🔴 XLK is trading 2.71% down today following Accenture's weak outlook and a sector-wide selloff

XLK is trading at $186.94 (-2.71%) as technology stocks face heavy selling pressure following a downbeat revenue forecast from Accenture.

• The broader technology sector is down approximately 2%, dragging both the NASDAQ Composite and S&P 500 lower as enterprise spending sentiment weakens.
• Accenture triggered the decline after cutting its full-year outlook, leading to a sharp drop in its share price and impacting the wider sector.
• Significant downward pressure is also being felt across major industry names, including Micron and Alphabet.