🔴 Tech ETF (SPRX) is trading 4% down today as elevated Treasury yields pressure high-growth valuations

SPRX is trading 4% down as elevated Treasury yields reduce the appeal of high-growth valuations.

• The 30-year Treasury yield remains near its highest level since 2007 as investors await Federal Reserve minutes for clues on inflation and rate cuts.
• Selling in AI-related stocks, including Nvidia, is adding pressure; SPRX has substantial exposure to semiconductor and infrastructure companies.
• Broader markets remain mixed, while Middle East tensions and higher oil prices reinforce inflation concerns.