🔴 Tech ETF (FTEC) is trading 1.65% down in pre-market as hot CPI reignites Fed rate concerns

FTEC is trading at $288.25, down 1.65%, as September CPI on October 14 rekindled higher-for-longer Fed rate concerns.

• Headline CPI was 3.7% and core 2.6% year over year, both above expectations; Nasdaq futures fell over 1% amid continued AI tech selling and concern borrowing costs could constrain AI infrastructure investment.
• Overnight, global tech and semiconductor shares remained under pressure; TSMC’s cautious comments on 2027 macroeconomic conditions weighed on sentiment. U.S. PPI and retail sales were due at 8:30 a.m. ET.