QQQM is trading 1.5% down today as its tech-heavy portfolio tracks a broad risk-off move in U.S. equities following a lack of progress on semiconductor export relief.
- Sentiment weakened after the U.S.–China summit ended without a deal on AI-chip sales, dimming growth prospects for the sector.
- Rising Treasury yields and higher oil prices are weighing on growth valuations, offsetting strong quarterly results from Applied Materials.
- The Nasdaq Composite is down 1.53% as information technology shares face pressure after hitting recent record highs.