🔴 Technology ETF (IYW) is trading 1.8% down as rising Treasury yields pressure tech

IYW is trading at $266.62, down -1.80%, as higher Treasury yields and surging oil pressure rate-sensitive technology shares.

• Brent rose above $104 amid Middle East supply concerns.
• The 10-year Treasury yield was near 5.3%, close to its highest level since 2002; Fed hawkishness reinforced inflation and rate concerns.
• Technology was among the weakest S&P 500 sectors, with semiconductor shares including NVIDIA and Broadcom also lower. The broader market was down too, but the sharper Nasdaq decline and sector weakness point to added pressure on growth-oriented tech.