iShares Nasdaq Top 30 Stocks ETF is trading 1.5% down today as information technology and broader growth stocks sell off following a higher-than-expected CPI print.
- The latest inflation data has reinforced expectations for continued restrictive Fed policy, placing significant pressure on long-duration tech valuations and the broader Nasdaq Composite.
- The information technology sector is under particular pressure as semiconductors and major AI beneficiaries like Nvidia retreat, extending weakness from the prior session’s sharp tech reversal tied to geopolitical tensions and AI-related disappointment.