QQQ is trading 1.6% down in pre-market as stalled Nvidia H200 sales to China and elevated interest rate concerns pressure the tech-heavy index.
- Stalled shipments of H200 chips to China, despite prior U.S. approval, have reignited geopolitical tensions and created a fresh overhang for large-cap growth.
- Broader U.S. equity futures are sliding as investors lock in profits following record closes on May 14, 2026, with high valuations facing increased scrutiny.