QTOP is trading 1.7% down today as hotter-than-expected April CPI data at 3.8% YoY reduces expectations for Fed rate cuts, pressuring growth stocks and the broader Nasdaq.
- Supply chain risks are rising due to a labor standoff at Samsung that could lead to a May 21 strike, potentially disrupting $20 billion in AI chip production.
- The information technology sector, which makes up 56% of the fund, is facing additional pressure from elevated oil prices and geopolitical tensions weighing on market sentiment.