🔴 Tech ETF (SPRX) is trading 2.2% down in pre-market as oil and yields renew inflation concerns

SPRX is trading $50.15 (-2.20%) as higher oil and Treasury yields renew inflation concerns and weigh on risk sentiment.

• Brent rose more than 4% amid Gulf shipping attacks, while the 10-year yield reached 5.34%.
• U.S. futures are lower, with Nasdaq futures down 0.66%; Nvidia, Broadcom, and Micron also traded lower pre-market.
• No major U.S. economic release is scheduled before the open; initial jobless claims are due at 8:30 a.m. ET.