The JEPI ETF closed the day on August 22 down 0.16% to $57.91. The broader market is experiencing a pullback, with the S&P 500 declining by 0.89% and the Nasdaq down 1.67% as of 4:09 PM EST. This downturn is largely attributed to rising concerns over inflation, as recent economic data suggests persistent price pressures that could influence Federal Reserve policy. The anticipated Consumer Price Index (CPI) report, expected to show a 0.2% monthly increase, is causing investors to reassess their positions, particularly in equities that are sensitive to interest rate changes.
Additionally, the technology sector, which constitutes a significant portion of JEPI's underlying assets, is facing headwinds as major tech stocks like NVIDIA and Zoom have reported disappointing earnings or guidance, leading to a sell-off in growth-oriented equities. The overall sentiment in the market is cautious, with investors seeking safer assets amid fears of a potential economic slowdown, further impacting the performance of the stocks held within the ETF.