🔴 Tech ETF (EUV) is trading 1.7% down in pre-market as 10-year Treasury yield climbs above 5.1%

EUV is trading 1.7% down in pre-market as higher rates pressure technology valuations.

• Strong U.S. PMI data accelerated expectations for additional Federal Reserve tightening, pushing the 10-year Treasury yield above 5.1%, its highest level since 2007.
• Higher yields weigh on growth and technology valuations, while broader risk-off trading reinforces the decline.
• Nasdaq futures are weaker as investors await September 24 jobless-claims and August new-home-sales data; the move follows profit-taking after EUV’s strong multi-session rally.