🔴 IPO ETF (IPO) is trading 3.3% down today as multiyear-high Treasury yields pressure tech valuations

IPO is trading at $54.91, down -3.32%, as multiyear-high Treasury yields pressure growth-stock valuations.

• Renewed U.S.-Iran tensions have pushed oil near $90, adding to risk-off pressure.
• Technology shares lead the decline: the Nasdaq is down 1.31% versus 0.61% for the S&P 500.
• IPO’s technology-heavy portfolio is especially sensitive to rising discount rates.