FTXL is trading 1.59% lower in pre-market as strong September PMI readings lifted expectations for additional Federal Reserve tightening. - The 10-year Treasury yield reached approximately 5.11%, its highest since 2007, weighing especially on rate-sensitive technology valuations. - Weaker Nasdaq futures and the Nasdaq Composite’s 1.03% decline reinforced broad risk-off pressure; the move is primarily macro-driven rather than company-specific. - FTXL’s 99.9% technology allocation makes it particularly sensitive to higher discount rates, elevated yields and broad equity weakness.