🔴 Technology ETF (SPRX) is trading 2.77% down in pre-market after hotter U.S. inflation pressured growth stocks

SPRX is trading at $41.47 (-2.77%) as September CPI rose 3.7% year over year, above forecasts, reviving higher-for-longer rate concerns and pressuring growth stocks.

• The tech-led selloff spread globally: Nasdaq futures fell about 1.1%, while Asian chipmakers and technology shares plunged.
• AI-infrastructure financing and valuation concerns added pressure; NVIDIA was down further pre-market.
• PPI and retail sales are due at 8:30 a.m. ET, adding uncertainty for rate-sensitive technology shares.