SPY is trading around 1.1% lower pre-market as investors lock in profits and global risk sentiment softens amid higher-rate concerns.
- The pullback follows a strong Thursday rally fueled by robust retail sales and tech sector strength.
- Growth and technology names, which dominate the SPY sector mix, are facing pressure from overnight volatility and interest rate jitters.
- U.S. equity futures continue to slide as the market retreats from recent record highs.