XLK is trading at $181.78 (-1.51%) as technology stocks face pre-market pressure from falling Nasdaq-100 futures and a rotation out of growth sectors.
- Global sentiment turned bearish overnight following a sharp 8.4% decline in South Korea’s KOSPI, which weighed heavily on semiconductor stocks.
- The sector continues to struggle with valuation concerns and AI infrastructure costs, which have overshadowed strong earnings from Micron.