Invesco PHLX Semiconductor ETF is trading 5.7% down today as investors aggressively take profits in high-flying semiconductor names following Broadcom’s earnings and AI outlook.
- The sector-wide pullback was sparked by Broadcom's latest financial results, which pressured growth and AI-exposed stocks across the semiconductor complex.
- Broader weakness in information technology and a negative reaction to the latest U.S. jobs report are further weighing on the Nasdaq and growth-oriented funds.