Invesco NASDAQ 100 ETF is trading 1.5% down today as a hotter-than-expected May CPI print raises concerns about stickier inflation and a reduction in projected Fed rate cuts.
- Higher yields and renewed geopolitical tensions in the Middle East are weighing heavily on long-duration growth and AI-related tech stocks.
- The information technology-heavy Nasdaq is underperforming broader risk assets, driving broad weakness across the sector and pulling the ETF lower.