🔴 Snap is trading at 4.2% down today as hotter inflation boosts rate-hike bets

Snap is trading at $6.22, down 4.2%, as hotter-than-expected September inflation boosted rate-hike bets and weighed on growth stocks.

• Reuters reported U.S. indexes opened lower after the inflation data strengthened rate-hike bets; rising rate concerns and Treasury yields are pressuring technology and growth stocks.
• No direct Snap-specific announcement explaining the decline was found. Earlier Blue Duck Specs proposal news does not clearly explain today’s move.