The AI Trade Hits a Wall: Tech Rout, Sector Rotation, and What 57,000 Jobs Really Signal
A stunning June payrolls miss — 57,000 jobs vs. 115,000 expected — collided with stretched AI valuations Thursday to trigger tech's sharpest single-session rotation of the year. XLK shed 2.6% as capital rushed into financials (+2.2%) and communications (+2.4%), exposing the widening gap between AI h