Tech ETF (SMH) is trading 1.8% down today as investors rotate out of semiconductors following a sharp AI-driven rally and position for upcoming economic catalysts.
- Wall Street is seeing a broader shift away from high-growth technology stocks and into consumer-focused sectors after yesterday’s powerful chip-led surge.
- Market participants are currently recalibrating portfolios ahead of critical macroeconomic releases, specifically the upcoming GDP and PCE inflation data.
- The downward move reflects profit-taking and a lack of new economic data to sustain the recent momentum in the semiconductor space.