🔴 SP Funds S&P Global Technology ETF is trading 5.2% down today on Broadcom AI guidance and hawkish Fed expectations

SP Funds S&P Global Technology ETF is trading 5.2% down today as global technology and semiconductor shares sell off following disappointment around Broadcom’s AI guidance and renewed concerns about higher-for-longer interest rates.

• Stronger-than-expected U.S. jobs data is reinforcing hawkish Fed expectations, pushing Treasury yields higher and pressuring long-duration growth assets, with the tech sector leading the decline.
• A market rotation away from expensive technology stocks into more defensive and value areas is further amplifying the downside for tech-heavy ETFs.