iShares Semiconductor ETF is trading 5.5% up today as semiconductor and AI-linked stocks bounce from oversold levels following a sharp selloff triggered by a strong jobs report.
- The recovery follows a June 5 selloff where a stronger-than-expected May jobs report increased Fed hike expectations, causing the Nasdaq to drop more than 4%.
- Firmer S&P 500 and Nasdaq futures are supporting a broader tech recovery after the recent Broadcom-led semiconductor slump.
- Information technology and AI-linked chip names are seeing a relief rally as they stabilize from previously oversold conditions.