🔴 Tech ETF (AIQ) is trading 2.69% down in pre-market as U.S.-Iran escalation pushes crude above $90

AIQ is trading at $62.57, down 2.69% from the August 31 close, pressured by renewed U.S.-Iran escalation around the Strait of Hormuz, which pushed crude above $90 and weakened growth-stock sentiment.

• Nasdaq futures are down 0.88%, while S&P 500 futures are down 0.49%.
• A hawkish Federal Reserve backdrop is adding rate sensitivity for technology shares.
• Investors await September 1 JOLTS and ISM Manufacturing PMI; ISM is forecast at 55.2 versus 55.6 previously.