XLK is trading at $185.79, down 2.23%, as hotter-than-expected September CPI revived concerns about higher-for-longer rates, pressuring technology shares sensitive to borrowing costs.
- The inflation-driven Wall Street selloff carried into global markets on October 15.
- Reuters reported technology was the main driver of the broader selloff, amid worries about financing AI investment. Semiconductor and AI-related shares also fell, with sharp losses among Asian chipmakers.
- XLK’s decline reflects broad technology-sector and risk sentiment, not a confirmed company-specific catalyst.