SPMO is trading 1.7% down in pre-market as broader market sentiment shifts to risk-off amid escalating geopolitical tensions in the Middle East.
- US futures are under pressure, with S&P 500 futures down 1.11% and Nasdaq futures dropping 1.45%.
- Geopolitical risks have intensified following a tanker strike near Qatar and Iranian threats targeting US tech firms.
- With a 44.5% weighting in Information Technology, the ETF is closely tracking the current weakness in the Nasdaq.