SPMO is trading 2.1% down today, reflecting broad information technology sector softness and weaker NASDAQ futures.
- With over half of the ETF concentrated in tech, the fund is facing headwinds from regulatory pressure on major platforms like Apple and Google, alongside cautious positioning ahead of key manufacturing data.
- Macro concerns regarding aggressive AI spending and systemic risks highlighted by the BIS are prompting profit-taking in growth-heavy tech benchmarks.