🔴 Tech ETF (SOXX) is trading 1.8% down today as traders lock in profits and rotate toward defensive sectors

Tech ETF (SOXX) is trading 1.8% down today as traders lock in profits following a massive multi-day AI-driven semiconductor rally and rotate toward more defensive, consumer-focused sectors.

• The move reflects position unwinding as investors prepare for key GDP and PCE inflation releases later this week.
• Richly valued AI chip names are facing broader pressure following yesterday’s outsized gains, despite a lack of new economic data or sector-specific shocks.