SPY is trading 1.1% lower in pre-market action as investors take profits following the S&P 500’s record-setting run and navigate renewed interest rate concerns.
- Higher-for-longer rate fears have returned to the forefront following recent hot inflation data and surging energy prices, pressuring the growth and tech sectors.
- Market sentiment is further dampened by a disappointing outcome from the U.S.–China semiconductor trade summit and rising geopolitical tensions.