🔴 Tech ETF (LYTE) is trading 4.2% down in pre-market as oil and yields pressure tech stocks

LYTE is trading at $24.17, down 4.20% from the September 11 close, following broad pre-market weakness led by the technology-sensitive Nasdaq.

• Nasdaq down 1.55%, futures down 1.61%; higher oil prices near $104.60–$107.81, 10-year Treasury yields near 4.97%–5.0%, and Middle East shipping concerns pressure rate-sensitive technology valuations.
• Ahead of the Fed’s September 16 decision, markets price an 87%–90% probability of a 25-basis-point hike; weekend Anthropic and OpenAI headlines may pressure AI-related shares, while Adobe’s disappointing outlook weighs on the sector.