🔴 Tech ETF (SPRX) is trading 2.74% down as reported CXMT advance heightens chip competition fears

SPRX is trading at $44.73, down 2.74%, as CXMT’s reported memory-technology advance heightened chip competition fears and extended semiconductor selling pressure.

• September CPI was hotter than expected at 3.7% annually; core CPI was 2.6%, adding to rate concerns.
• Weak Nasdaq futures and doubts about AI investment returns pressured growth-oriented technology shares.
• The main drivers were chip weakness and inflation risk, not a uniformly lower market.