SPY is trading at $761.98, down 0.76%, as stronger-than-expected September composite PMI reinforced expectations for tighter Federal Reserve policy.
- The 10-year Treasury yield climbed above 5.1%, pressuring equity valuations, especially technology stocks.
- Nasdaq futures are underperforming, indicating technology-led weakness across the S&P 500; Brent crude above $100 adds to inflation and interest-rate concerns.
- The decline appears broad and macro-driven rather than attributable to one dominant company.