🔴 Tech ETF (WQTM) is trading 1.68% down today as investors reassess growth-stock valuations

WQTM is trading 1.68% down today as investors reassess growth-stock valuations after the Federal Reserve’s September 16 rate hike.

• WQTM is pulling back after gaining 3.48% on September 17; the Nasdaq Composite is nearly flat at 0.07% higher, while the S&P 500 is down 0.15%, suggesting an ETF-specific decline.
• The Bank of Japan raised rates to 1.25%. Retreating Treasury yields and oil prices are cushioning sentiment, but the global rate backdrop remains a headwind for technology shares.