S&P 500 ETF (SPY) is trading 0.7% down today as surging Treasury yields and persistent inflation concerns weigh on equity valuations.
- Higher long-term rates, with the 30-year yield touching its highest level since 2007, pressured growth and tech-heavy segments that dominate the index.
- Investors are positioning cautiously ahead of Nvidia’s earnings report amid elevated oil prices and geopolitical tensions.
- The broader risk-off tone across major U.S. indices reflects ongoing pressure on growth-oriented sectors sensitive to rising rates.