🔴 Tech ETF (WQTM) is trading 1.62% down in pre-market as hotter CPI revives rate concerns

WQTM is trading at $28.00, down 1.62%, as hotter-than-expected September CPI renewed higher-for-longer rate concerns and pressured growth stocks.

• September CPI was 3.7% year over year, versus 3.6% expected.
• Semiconductor weakness deepened after U.S. losses, while Asian tech markets tumbled overnight; Nasdaq futures were down about 1.1%.
• Pressure was concentrated in technology, while the S&P 500 was also lower.