Invesco QQQ Trust is trading 1.6% down today as hotter-than-expected May CPI data pressures interest rate-cut expectations and triggers a broad risk-off move in tech-heavy equities.
- Geopolitical tensions surrounding Iran and elevated oil prices are adding an inflation risk premium, hitting long-duration growth and technology names hardest.
- Recent profit-taking and funding-related weakness in AI and semiconductor leaders like Nvidia and Super Micro Computer are further weighing on the index.