🔴 SPXL is trading 3.1% down today on tech selloff and renewed interest-rate fears

SPXL is trading 3.1% down today as tech valuation concerns and hawkish Fed commentary pressure growth-heavy S&P 500 exposure.

• Tech and semiconductor stocks are leading the decline due to valuation concerns and high capital expenditure expectations.
• Geopolitical tensions involving Iran are driving oil prices higher, while hawkish Fed commentary revives fears of sustained high interest rates.
• As a 3x leveraged ETF, SPXL is experiencing magnified losses in pre-market trading relative to the underlying S&P 500 index.