SPY is trading 0.7% down today as macro headwinds, including hawkish Federal Reserve expectations and surging energy costs, pressure the broader index.
- Investors are bracing for upcoming FOMC minutes as rising odds of a rate hike weigh on growth-heavy sectors.
- Sentiment is further dampened by a sharp overnight selloff in semiconductor stocks and a more than 5% jump in oil prices driven by escalating Middle East tensions.