PWB is trading at $164.65 (-2.26%) as tech-heavy growth stocks soften ahead of Manufacturing PMI data.
- Investors are de-risking ahead of the 10:00 AM Manufacturing PMI, with broader equities also under pressure.
- Tech sentiment has turned cautious following warnings regarding AI spending risks and valuation excesses.
- Significant information technology exposure is dragging the fund lower as NASDAQ futures and growth stocks retreat.