“Tech stocks were falling hard with the overall market Monday in the wake of the Standard & Poor’s downgrade as PowerShares QQQ (QQQQ) dropped 5% on heavy volume,” Tom Lydon reports for ETFTrends. “The Nasdaq-100 exchange traded fund is a liquid vehicle for trading a basket of some of the market’s largest technology stocks.
“Top holding Apple (AAPL) had been holding up relatively well in the sell-off until late last week,” Lydon reports. “Apple shares were down over 4% on Monday and testing their 200-day exponential moving average. The stock represents 14.3% of the Nasdaq-100 ETF.”
Charts in the full article here.