🔴 State Street SPDR S&P Semiconductor ETF is trading 6.3% down today on Broadcom's cautious AI guidance and strong jobs data

State Street SPDR S&P Semiconductor ETF is trading 6.3% down today as investors unwind crowded AI-chip trades following Broadcom’s earnings reaction and cautious guidance.

• Broadcom’s outlook triggered sector-wide profit-taking, pressuring semiconductor stocks that have seen significant year-to-date gains.
• A stronger-than-expected U.S. jobs report has reignited concerns over potential Fed rate hikes, weighing heavily on rate-sensitive technology valuations.
• The Nasdaq is notably underperforming the Dow, further amplifying the downside for the semiconductor-focused ETF.