🔴 State Street SPDR S&P Semiconductor ETF is trading 10.3% down today on hotter jobs data and Broadcom's cautious AI guidance

State Street SPDR S&P Semiconductor ETF is trading 10.3% down today as a strong U.S. jobs report reinforced expectations for higher-for-longer interest rates, triggering a broad sell-off in high-beta AI-chip stocks.

• Broadcom’s cautious AI guidance earlier in the week continues to weigh on the semiconductor complex, prompting profit-taking in a fund that had nearly tripled during the AI boom.
• The ETF is heavily concentrated in information technology, making it highly sensitive to the current unwind of the AI-driven rally and shifting macroeconomic outlooks.