🔴 Tech ETF (IYW) is trading 1.5% down as above-forecast CPI lifts rate-hike concerns

IYW is trading at $263.30 (-1.50%) as hot inflation lifts Treasury yields and rate-hike concerns weigh on growth stocks.

• September headline CPI rose 3.7% year over year, above the 3.6% forecast.
• Semiconductor weakness reflects investor concerns about Chinese memory-chip competition and doubts about returns on AI spending.
• The broader market is also lower, with the Nasdaq down 0.90%.