The SPDR S&P 500 ETF Trust (SPY) fell 0.13% on March 11 due to rising geopolitical tensions, high oil prices, and investor concerns about inflation. The decline is largely in line with the broader market, as the S&P 500 Index (SPX) also dropped 0.08% and the Nasdaq-100 (NDX) rose 0.03%.
The SPY ETF tracks the S&P 500 Index, which is closely watched for its inflation gauge, Personal Consumption Expenditures (PCE). A delayed report on PCE will be released later this week, and any significant downward revision could spark concerns about “slow growth.” Additionally, key earnings reports from Adobe, Lennar, and Dollar General are expected to influence market sentiment.
Despite the decline, retail sentiment for SPY remains positive, with hedge fund managers increasing their holdings in the last quarter. The ETF’s five-day net outflows were $3 billion, but its three-month average trading volume is 83.55 million shares. TipRanks’ analyst consensus predicts a Moderate Buy rating, with a price target of $830.31 for an upside potential of 22.77%.
Source: https://www.tipranks.com/news/why-is-the-spy-etf-down-today-3-11-2026