🔴 Fidelity MSCI Information Technology Index ETF is trading 2.1% down today on CPI jitters and AI profit-taking

Fidelity MSCI Information Technology Index ETF is trading 2.1% down in pre-market action as investors brace for the 8:30 AM ET U.S. CPI and real earnings reports, which could reinforce expectations for higher-for-longer Fed policy.

• The broader market sentiment is risk-off, with Nasdaq futures down over 1% and global indices like the Nikkei and FTSE also trading lower.
• Profit-taking in mega-cap tech and AI leaders is accelerating, further dragging the information technology sector lower ahead of key economic data.