FTEC is trading at $279.58 (-3.36%) in pre-market, primarily as Middle East hostilities push Brent crude above $99, raising inflation and risk concerns.
- The 10-year Treasury yield climbed above 4.8%, pressuring growth-oriented technology valuations.
- U.S. futures were broadly weaker, although Nasdaq futures were comparatively resilient.
- The move appears macro-driven, not tied to a single technology company; investors are reducing risk ahead of later-week inflation data as stronger August employment data reinforces elevated-rate concerns.