QQQM is trading at $285.77 (-1.69%) amid a broad technology and semiconductor selloff that has pushed Nasdaq-100 futures sharply lower.
- Pre-market weakness is driven by AI spending concerns following TSMC’s higher capex outlook and hawkish Fed commentary that keeps interest rates elevated for growth stocks.
- As the ETF is heavily weighted toward tech and communication services, it is moving in tandem with the broader sector rather than a single-company event.