SPY is trading 1% lower today, reflecting ongoing pressure on the technology-heavy S&P 500 as investors rotate out of growth and AI-driven semiconductor names.
- Geopolitical tensions between the U.S. and Iran have driven Brent crude above $90, reviving inflation and interest rate worries.
- With the technology sector representing roughly one-third of the index, the current slump is significantly dragging the broader market lower.
- Risk-off sentiment is intensifying as the combination of energy price shocks and a retreat in AI-driven stocks pressures the S&P 500.