🔴 Growth ETF (PWB) is trading 1.6% down as rising yields weigh on tech shares

PWB is trading at $160.79, down 1.63%, as rising Treasury yields and renewed inflation concerns weigh on growth-oriented tech shares.

• The 10-year yield rose to 5.23%; oil climbed after the U.S. rejected Iran’s proposal.
• Investors are positioning ahead of this week’s PCE inflation report and jobs data; broad U.S. indexes are lower.
• IT is 49% of PWB, leaving it exposed to tech weakness. OpenAI’s training pause adds AI uncertainty, but evidence does not establish it as the main driver.