SPY is trading 1.1% down today as the S&P 500 follows a broad risk-off shift triggered by a sharp escalation in U.S.-Iran tensions and a surge in crude oil prices.
- Investors are rotating out of growth and tech-heavy names amid concerns about higher inflation and heightened geopolitical risk.
- Markets are seeing significant de-risking ahead of the FOMC minutes, which could reinforce a more hawkish Federal Reserve stance.