iShares Semiconductor ETF is trading 10.1% down today as a stronger-than-expected U.S. jobs report and disappointing results from Broadcom triggered a massive selloff in the chip sector.
- A hotter-than-anticipated labor market has forced markets to price in higher-for-longer interest rates, weighing heavily on richly valued growth names.
- The decline was accelerated by Broadcom’s disappointing revenue print and AI outlook, sparking sector-wide profit-taking.
- With semiconductors dominating the portfolio, the ETF is underperforming the broader market amid the tech-heavy selloff.