🔴 Tech ETF (WQTM) is trading 1.77% down in pre-market as rising yields weigh on tech valuations

WQTM is trading at $31.60, down 1.77% from the September 23 close as higher Treasury yields weigh on rate-sensitive technology valuations. - The Nasdaq Composite is down 0.93% and Nasdaq futures are down 0.81%; the 10-year Treasury yield remains near 5.125%. - Strong September flash PMI data pushed yields to their highest levels since 2007. - The September 24 initial jobless claims release at 8:30 AM ET is the main scheduled catalyst, with consensus near 201,000.