QQQ is trading 1.5% down today as escalating Middle East tensions and surging energy costs trigger a broad sell-off in growth-heavy tech stocks.
- Iran's rejection of a U.S. ceasefire proposal and the imposition of Strait of Hormuz fees have stalled negotiations, driving crude oil prices above the $100 per barrel threshold.
- The Nasdaq Composite fell 1.43%, reversing previous gains as investors shift to a risk-off stance amid fears that rising energy costs will fuel persistent inflation.
- Tech-heavy growth stocks are under significant pressure as the geopolitical standoff dampens earlier hopes for a peaceful resolution.