On June 23, the Invesco QQQ Trust (Nasdaq 100 ETF) fell 3.01% in pre-market trading, trading at $715.835/share, with turnover of $720 million.
The decline was driven by a sweeping global selloff in AI and semiconductor stocks. During the Asian session, South Korea's KOSPI index plunged nearly 10%, with memory chip leader SK Hynix crashing over 12%. Japan's Nikkei 225 fell 3.55%, ending an eight-session winning streak. Nasdaq 100 futures dropped as much as 3%, while S&P 500 futures fell 1.47%.
Market analysts pointed to multiple converging pressures: escalating concerns over the sustainability of hyperscaler AI infrastructure spending, a challenging rate environment undermining high-growth valuations, and aggressive profit-taking after extended rallies left markets in overbought territory. RBC BlueBay's strategy head noted that when leverage and retail participation surge alongside rapid tech gains, markets become fragile and require minimal negative catalysts to trigger sharp corrections. Micron Technology fell over 9% pre-market, and ASML dropped more than 4%, reflecting broad semiconductor weakness.
The Invesco QQQ Trust seeks to track the investment results of the NASDAQ-100 Index, adjusting its composition and weighting periodically to conform to changes in the identity and relative weights of index securities.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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