🔴 Growth ETF (XOVR) is trading 2.2% down in pre-market as rising Treasury yields pressured growth stocks

XOVR is trading 2.2% lower in pre-market as rising Treasury yields pressured long-duration growth stocks.

• August 20’s equity selloff weighs despite modestly positive U.S. index futures.
• Oil above $87 and escalating Iran tensions renewed inflation concerns; Walmart’s weak outlook hurt broad risk sentiment, though its direct impact on XOVR should be limited.
• Technology-heavy holdings heighten sensitivity to rates and Nasdaq sentiment; August 21, 9:45 AM ET flash PMIs are expected at 53.9 manufacturing and 54.0 services.