TQQQ is trading 5.4% down today as growth and tech shares extend their recent pullback, driven by a sector-wide selloff in semiconductor and megacap technology stocks.
- The decline is fueled by rising competition fears from China and investor concerns regarding heavy capital expenditure in artificial intelligence.
- Cautious sentiment ahead of the Federal Reserve’s two-day policy meeting is further weighing on the Nasdaq-100 and high-beta growth ETFs.