🔴 Tech ETF (ARKK) is trading 3% down in after-hours trading as hawkish Fed message lifted yields

ARKK is trading at $81.95 (-3.01%) as Federal Reserve Chair Kevin Warsh’s hawkish August 28 Jackson Hole message increased rate-hike expectations and pushed Treasury yields higher.

• Higher rates are pressuring ARKK’s long-duration innovation and growth holdings.
• Sector weakness was reinforced by Marvell falling after disappointing margin guidance, reversing part of the prior AI-led technology rally.