Semiconductor ETF falls 4.28% in early US trading, leading sector ETF declines

The rotation is the story here: semis leading losses while energy, financials and banks post gains points to a sector shift rather than broad risk-off, since the tech complex fell in a staggered way — internet stocks down far less than chip names. Chip-heavy exposure is bearing the brunt, which matters for anyone tracking AI-adjacent equity beta. Whether this divergence holds through the full session, or semis drag the wider tech complex down with them, is the open question.