🔴 Tech ETF (SOXQ) is trading 4% down in pre-market as higher oil prices pressure growth stocks

SOXQ is trading at $89.40 (-3.98%) as Middle East shipping risks lift oil prices and Treasury yields near 5% intensify rate concerns.

• Nasdaq futures down 1.61%; S&P 500 futures down 0.70%; the upcoming Fed decision is in focus.
• The move appears primarily macro-driven rather than tied to one dominant holding; recent semiconductor and AI optimism, including AMD’s Taalas acquisition, is overwhelmed by risk-off positioning and higher discount rates, disproportionately weighing on technology and AI-sensitive stocks.