The BrainChip Holdings Ltd (ASX: BRN) share price is tumbling today despite no news having been released by the company.
At the time of writing, the BrainChip share price is $1.09, 5.65% lower than its previous close.
For context, the S&P/ASX 200 Index (ASX: XJO) is currently 0.69% higher.
Let's take a closer look at what might be weighing on the neuromorphic computing company's stock today.
What's going wrong for the BrainChip share price today?
BrainChip shares are having a rough day on Wednesday, slumping more than 5% as the tech sector struggles.
Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is down 2.6% while the S&P/ASX All Technology Index (ASX: XTX) is recording a 2.05% drop.
The sector is struggling following the tech-heavy Nasdaq Composite's 2.35% tumble overnight.
The dip was led by social media stock Snap Inc (NASDAQ: SNAP). It plummeted 43% on the back of a negative trading update.
It was also likely driven by fears of a recession in the United States, The Motley Fool's Bernd Struben reported this morning.
Suffering alongside the BrainChip share price is stock in tech giants Block Inc (ASX: SQ2) and Megaport Ltd (ASX: MP1). They've both tumbled more than 5%.
However, the dip hasn't been enough to send BrainChip's stock into the long-term red.
Right now, it's trading for 38% more than it was at the start of 2022. It's also 91% higher than it was this time last year.
At the current share price, BrainChip presides a market capitalisation of $1.97 billion.
