State Street SPDR S&P 500 ETF Trust is trading 1.6% down today as a hotter-than-expected May CPI print and rising rate-cut doubts trigger a broad market selloff.
- Selling is being driven by renewed geopolitical tensions and a retreat in large-cap technology and AI beneficiaries, which represent nearly 40% of the index.
- The decline marks a significant pullback from recent highs as tech-heavy weakness dominates the broader market landscape.