🔴 Communications ETF (FCOM) is trading 1.5% down as hot inflation lifts Treasury yields

FCOM is trading at $72.22 (-1.51%) as September inflation exceeded forecasts, lifting Treasury yields and pressuring equities.

• Headline inflation was 3.7% year over year; core inflation was 2.6%.
• Higher yields and renewed Fed rate-hike concerns weighed on growth-oriented shares, in line with the broader market decline.
• Meta’s Muse Wonder launch was positive company news but does not explain the sector-wide weakness.