🔴 SPMO is trading 1.8% down today on tech sector weakness and chip-sector worries

SPMO is trading 1.8% down today as its heavy information technology exposure faces continued selling pressure.

• Tech and industrial sectors led declines in the prior session, with the S&P 500 Information Technology sector down over 2% and XLK off 2.7%.
• Futures are extending weakness amid chip-sector worries, higher rate expectations, and risk-off sentiment.
• The broad tech-heavy ETF is being dragged lower as market participants react to sector-specific headwinds.