SP Funds S&P Global Technology ETF is trading 2.4% higher as information technology stocks rebound from the June 17 selloff following the Federal Reserve’s cautious tone on future rate moves.
- Investors are selectively buying back beaten-down mega-cap tech names after interest rates were held at 3.50%–3.75%.
- The upward move reflects market stabilization and a recovery in global technology benchmarks following yesterday’s risk-off shift.
- With no new economic data released on June 18, sentiment has improved for tech-heavy ETFs as initial rate jitters begin to ease.