XLK is trading 1.58% down in pre-market on September 10, 2026 as higher oil prices and Treasury yields intensify inflation concerns.
- The 10-year Treasury yield recently reached 4.88%, its highest level in nearly three years, as markets awaited August PPI data.
- Semiconductor weakness deepened pressure, with NVIDIA facing a reported DOJ investigation into its licensing arrangement with AI-chip startup Groq.
- Broader equity futures are lower, with Nasdaq contracts underperforming.