🔴 Tech ETF (SPRX) is trading 3.35% down as yields and rebounding oil pressure tech stocks

SPRX is trading at $50.51, down 3.35%, as higher Treasury yields and rebounding oil weigh on growth stocks amid renewed inflation and rate concerns.

• Investors are cautious ahead of the 2:00 p.m. FOMC minutes.
• Weaker chip shares are adding pressure to technology.
• The broader market is also lower, suggesting SPRX’s decline is consistent with wider risk-off trading rather than an ETF-specific headline.