🔴 NEOS NASDAQ-100(R) High Income ETF is trading 1.6% down today on hot CPI and tech selloff

NEOS NASDAQ-100(R) High Income ETF is trading 1.6% down today as investors rotate out of rate-sensitive technology stocks following a hotter-than-expected May CPI print.

• Higher inflation data has reduced the odds of Federal Reserve rate cuts, keeping Treasury yields elevated and putting broad pressure on the information technology sector.
• The Nasdaq-100 and related income products are being dragged lower by extended profit-taking in major AI and semiconductor names, including Nvidia and Super Micro Computer.