QTOP is trading 1.6% down today as its information technology–heavy portfolio tracks weakness in Nasdaq futures amid concerns over AI spending and chip demand.
- Large-cap growth tech sentiment is being pressured by lingering tariff uncertainty following the July 24 U.S. trade actions and heavy capex-focused earnings from major Nasdaq names.
- Investors are adopting a defensive stance ahead of critical macro catalysts, including upcoming consumer confidence data and the FOMC meeting.