XLK is trading at $186.29 (-1.53%) as hotter-than-expected September inflation revived concerns about further Fed rate hikes, increasing borrowing-cost pressure on growth stocks.
- Investors are rotating away from AI-linked technology shares over debt-funded data-center spending and uncertain returns, weighing on the sector as major markets trade mixed.
- ASML’s record sales and strong AI demand offer a counterpoint, but are not the clearest driver of the broad selloff.