SPYG is trading 1.8% down today as its large information technology allocation tracks a global tech and semiconductor selloff.
- Investors are reacting to higher AI-related capex from TSMC and hawkish Fed commentary regarding inflation risks stemming from AI infrastructure build-outs.
- Heightened U.S.–Iran geopolitical tensions are driving a rotation toward defensive and value sectors, weighing on long-duration growth stocks and Nasdaq futures.