QQQ is trading 3% down today as a broad technology and growth-stock selloff accelerates following a weak outlook from Accenture and caution ahead of PCE inflation data.
- Reduced IT spending signals from Accenture and a subsequent sector downgrade are intensifying selling pressure across the technology-heavy index.
- Global technology market weakness and a cautious tone regarding future Fed policy are weighing on growth-oriented equities.
- Investors are maintaining a defensive posture ahead of this week's critical PCE inflation data, which remains a key driver for interest rate expectations.