🔴 FTEC is trading 3.3% down today on Nasdaq futures drop and rising rate expectations

FTEC is trading 3.3% lower in pre-market as information technology shares fall alongside weaker Nasdaq futures and a broader risk-off tone.

• Traders are focused on rising rate expectations ahead of Thursday’s PCE inflation report, which is pressuring growth and AI-related names.
• The drop in tech-heavy Nasdaq futures and the continued unwinding of AI/tech momentum are the primary drivers of the sector’s pre-market weakness.