SPRX is trading 1.7% down today as Iran-related attacks sustain oil and inflation concerns.
- The ETF is underperforming the broader market while the S&P 500 and Nasdaq Composite are higher.
- Elevated Treasury yields continue pressuring growth-oriented technology valuations.
- Investors are reducing risk ahead of Broadcom’s September 3 earnings report, the final major AI-semiconductor catalyst this quarter; its results could influence semiconductor and broader technology sentiment.