iShares Nasdaq Top 30 Stocks ETF is trading 1.7% down today as its tech-heavy portfolio tracks ongoing weakness in the information technology sector following a sharp semiconductor and AI-led selloff.
- The downturn was triggered by a negative reaction to Broadcom’s earnings guidance, which has pressured expensive large-cap growth and AI names.
- Investors are actively rotating out of technology stocks and into value and industrial sectors, causing the Nasdaq to lag behind the Dow and other cyclicals.
- The fund remains under pressure despite a mixed macro backdrop and lower yields as the rotation away from AI-led growth continues.