🔴 Growth ETF (QTOP) is trading 1.58% down today as hotter-than-expected September CPI raises rate-hike expectations

QTOP is trading at $38.71 (-1.58%) as hotter-than-expected September CPI fueled rate concerns for growth stocks.

• Headline inflation reached 3.7% year over year, while core CPI was 2.6%; rising yields and increased rate-hike expectations pressured growth stocks.
• Reports of advancing Chinese memory-chip competition weighed on chipmakers. The broader market also fell, and QTOP’s 66.9% information-technology allocation makes it particularly exposed to the sector’s decline.