SPTE is trading at $45.50, down 3.74% from the September 1 close, as U.S.-Iran hostilities near the Strait of Hormuz lift oil prices and bond yields, pressuring technology valuations.

  • Nasdaq futures are down 0.35%, while upcoming ADP employment data adds uncertainty around Federal Reserve policy.
  • Broad market weakness, rather than a single-company catalyst, appears to be driving the decline as technology stocks face renewed risk-off pressure.