QQQ is trading at $732.41, down -1.50%, as hotter-than-expected inflation lifted Treasury yields and revived expectations of a Federal Reserve rate hike this month, pressuring rate-sensitive technology and growth stocks.
- September CPI rose 3.7% year over year, above the 3.6% forecast; core CPI also exceeded expectations.
- Major U.S. indexes were lower, reflecting broad weakness rather than QQQ-specific pressure; semiconductor concerns added pressure to technology shares.