🔴 Nasdaq-100 ETF (QQQ) is trading 1.6% down as hotter-than-expected inflation revives rate concerns

QQQ is trading at $716.37, down -1.60%, as hotter-than-expected September inflation revived concerns about higher-for-longer rates.

• Rate-sensitive technology and growth stocks were weighed down.
• Investors are reassessing debt-financed AI infrastructure spending; CoreWeave’s debt concerns and semiconductor weakness added pressure to AI-related shares.
• The broader market was lower, with the Nasdaq Composite down, reinforcing the sector-led move; these catalysts align with October 16 reports of persistent AI funding concerns and the inflation-driven rate outlook.