🔴 Large Growth ETF (XOVR) is trading 2.12% down in pre-market as hot CPI pressures tech stocks

XOVR is trading at $20.80, a -2.12% move, as hotter-than-expected September CPI renewed concerns about Fed rate hikes and weighed on growth stocks.

• September CPI came in at 3.7% year over year.
• Overnight, Asian markets sold off sharply and Nasdaq futures fell, with technology and chip shares among the weakest areas.
• XOVR’s technology and communication-services exposure makes the weakness relevant; the Nasdaq was down more than the S&P 500.