🔴 Tech ETF (XSD) is trading 5.2% down today after AI leaders urged slower frontier-model development

XSD is trading 5.2% down today after AI leaders urged slower frontier-model development over safety concerns.

• The warnings are pressuring semiconductor and AI-infrastructure shares, with NVIDIA and other chip stocks among the weaker names.
• Rising oil prices and pre-Federal Reserve meeting rate concerns are adding to risk-off sentiment.
• The Nasdaq is declining more than the broader market.