QQQM is trading 3% down today following a sharp IT sector selloff triggered by Accenture cutting its outlook and warning of weak enterprise tech spending.
- The downward move is pressuring enterprise IT and consulting firms, with negative spillover effects impacting large-cap growth and AI-related stocks.
- The Nasdaq 100 is tracking a broader tech-led risk-off sentiment as investors rotate away from high-growth technology sectors.
- Market sentiment remains weighed down by sector-specific weakness, with no major macroeconomic data available to offset the decline.