🔴 Technology ETF (JEDI) is trading 3.1% down today amid industrial transport weakness

JEDI is trading 3.1% down today amid industrial and macroeconomic pressure.

• J.B. Hunt plunged more than 12% after an earnings warning, as higher fuel, driver, and transport costs pressured industrials.
• The Fed raised rates 25 basis points to 3.75%-4.00% and guided another hike; elevated Treasury yields and stronger-than-expected August retail sales pressured equities and rate-sensitive holdings.
• JEDI’s 51% industrials allocation amplified the impact; the move was sector- and macro-driven, not attributable to the Swarm Aero announcement. The Dow’s larger decline versus the Nasdaq indicated industrial weakness.