TECL is trading 5% down today as information technology stocks and NASDAQ futures slide, with the broader market showing risk-off sentiment ahead of key economic data releases.
- Higher-for-longer interest rate fears and cautious positioning before the U.S. manufacturing PMI are pressuring long-duration growth assets.
- Leveraged tech ETFs like TECL are moving more sharply than the underlying sector as modestly weaker U.S. equity futures weigh on the technology landscape.