SPY is trading at $749.19 (-0.76%) as the S&P 500 falls amid a broader risk-off move driven by escalating Middle East tensions and pressure on technology stocks.
- Geopolitical risks are intensifying following escalating U.S.-Iran hostilities and concerns regarding the Strait of Hormuz, which are lifting oil prices and hurting market sentiment.
- The technology sector is under significant pressure, with the Nasdaq down 1.27% as investors reassess AI-related valuations and rotate out of growth stocks.
- Broader market indices are also retreating, with the Dow down 0.54% as the risk-off sentiment spreads across multiple sectors.