SPY is trading 0.65% down as broader weakness in technology and semiconductor stocks—the ETF’s largest sector weight—drags the S&P 500 lower.

  • Geopolitical tensions involving the U.S.-Iran conflict, rising oil prices, and renewed hawkish Fed signaling are pressuring risk assets.
  • Heavy selling in AI and chip names following TSMC’s massive capex plans is weighing on growth sectors and the Nasdaq.