🔴 Technology ETF (SPRX) is trading 1.56% down as Iran proposal rejection pushes crude prices higher

SPRX is trading at $48.09, down 1.56%, as rising crude prices and Treasury yields weigh on risk sentiment.

• Monday’s rejection of Iran’s Strait of Hormuz proposal renewed geopolitical uncertainty and pushed crude prices higher.
• The 10-year Treasury yield rose to 5.2%, pressuring technology stocks with rate-sensitive valuations; Nasdaq-100 futures fell 0.6% overnight.
• Broader indices were also lower, consistent with a risk-off move rather than an isolated SPRX catalyst.