QQQ Slides as Sticky Inflation, Tech Momentum Fade and Geopolitical Risk Combine
Invesco QQQ Trust fell about 1.2% in afternoon trade to $699.71 after peaking near $711.26, pressured by a hotter May CPI print that pushed year-over-year inflation to 4.2%. The CPI reading renewed expectations for higher-for-longer interest rates, amplifying losses in high-multiple technology names, while semiconductor and AI-linked stocks extende…