QQQ is trading 2.2% down today as a sharp global semiconductor sell-off and mounting concerns over stretched AI-related valuations drag major growth and tech names lower.
- Sentiment is further hit by weak earnings guidance from Netflix, a significant Nasdaq-100 constituent, reinforcing worries about future growth in key digital platforms.
- Overnight weakness in Asian and European chip stocks is spilling into U.S. markets, leading the tech-heavy Nasdaq-100 lower.