That marked the biggest single-day outflow since October 2000, amid the dot-com bubble.tumbling into correction territory in recent weeks. The gauge currently sits roughly 13% below its September 2 peak.
The Invesco QQQ ETF is the biggest technology ETF available to investors. The fund had more than $120 billion in assets as of Friday.GOLDMAN SACHS: Buy these 21 stocks on track for years of market-beating growth that could make them future giants — even rivals to the FAANGs The three-week skid in technology stocks comes as investors grapple with uncertainty surrounding the upcoming November presidential election, additional fiscal stimulus measures in response to the COVID-19 pandemic, and the development and rollout of a successful COVID-19 vaccine candidate.
The Nasdaq 100 is currently on pace to lose more than 10% in September, which would be for its worst month since 2008. On Monday, despite continued selling in the Nasdaq 100, the index outperformed the Dow Jones industrial average and S&P 500, suggesting that investors may warm up to tech stocks again as economic uncertainty persists.
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