QQQM is trading at $289.84 (-1.71%) as the broader information technology sector faces pressure from stretched AI valuations and a market rotation out of growth names.
- The decline is being driven by a selloff in Nasdaq futures and the Nasdaq Composite, alongside rising concerns regarding high infrastructure costs for tech firms.
- Negative sentiment is being amplified by reports of an OpenAI IPO delay and weakness in major sector bellwethers including Apple and Microsoft.