🔴 SPTE is trading 3.8% down today after Accenture guidance cut sparks tech selloff

SPTE is trading down 3.8% today as part of a broader global technology selloff triggered by lowered IT spending outlooks.

• Sentiment toward information technology deteriorated after Accenture cut its outlook, citing softer IT spending and a pullback in consulting services.
• Investors are rotating out of growth stocks amid an ongoing tech downturn, pressuring diversified ETFs like SPTE that hold over 50% of their weight in IT names.
• The decline comes alongside a roughly 2% drop in the broader tech sector and weaker performance across the NASDAQ.