🔴 Tech ETF (FTXL) is trading 4.84% down in pre-market after hotter-than-expected inflation revives rate concerns

FTXL is trading at $220.01 (-4.84%) as hotter-than-expected inflation revives concerns that rates may stay higher for longer, pressuring growth stocks.

• September CPI rose 3.7% year over year, above the 3.6% forecast.
• Semiconductor losses and a sharp Asian tech selloff added pressure; Nasdaq futures were down around 1.1%.
• TSMC reported better-than-expected quarterly results, a possible counterweight, but broad sector weakness dominated.