🔴 Tech ETF (FTXL) is trading 1.7% down as investors take profits after a sharp rally

FTXL is trading 1.7% lower as investors take profits after a sharp multi-session rally.

• Treasury yields remain elevated as investors await September 23, 2026 PMI data and Michael Barr’s Federal Reserve remarks.
• The broader market is weaker, with the Nasdaq Composite down 0.49%, adding pressure to technology valuations.
• The decline appears sector-wide and macro-driven; semiconductor enthusiasm and AI-infrastructure optimism are offset by near-term caution around rates and economic data.