SPTE is trading at $47.73, down 1.51% from the August 17 close as higher Treasury yields and oil prices pressure growth-stock valuations amid fading U.S.-Iran peace prospects.
- Global macro risk, rather than a company-specific announcement, drove the move; Nasdaq-100 futures fell about 0.7% in a broader technology-led risk-off move.
- Reuters reported that Tesla and Nvidia each declined more than 1% pre-market as inflation concerns revived.
- Brent crude reached about $91 per barrel; August 18 economic releases, including housing data, could further affect rate expectations.