🔴 Tech ETF (CHPS) is trading 1.8% down as oil and Treasury yields pressure tech stocks

CHPS is trading at $90.72, down 1.80%, as higher oil prices and Treasury yields weigh on technology stocks.

• The 10-year Treasury yield climbed to 5.34% as oil rose nearly 4%, renewing inflation concerns and pressure on rate-sensitive technology stocks.
• Samsung’s results failed to meet lofty expectations and did not lift chip stocks; Nvidia, Broadcom, and Micron were lower premarket.
• Broader U.S. indexes were also lower.