🔴 Tech ETF (FTEC) is trading 1.5% down after hotter-than-expected CPI revives rate concerns

FTEC is trading at $297.22, down 1.51%, as hotter-than-expected September CPI revived concerns about higher rates.

• Headline CPI was 3.7% year over year versus 3.6% expected; core CPI was 2.6% versus 2.5% expected.
• Rising Treasury yields are pressuring technology and other growth stocks, while continued weakness in chip shares adds sector-specific pressure.
• The Nasdaq is down 1.07% and the S&P 500 is down 0.78%.