The Nasdaq Composite (COMP:IND) and the tech focused sector of the economy have been under heavy selling pressure all week, with the index on pace for its worst week since a 5.5% retreat in mid-April.
Since last Friday’s close, the Nasdaq has dropped a total of 3.6% and also has come down 4.9% from its all-time trading high, which was recorded last week on Thursday, July 11. On Wednesday of this week, the index ended lower by 2.8%, which was its worst performance for a single session since December 15, 2022.
Moreover, the index subsequently fell another 0.5% on Thursday and is currently down another 0.7% on Friday.
Additionally, as the Nasdaq (COMP:IND) struggles, it has pulled down with it multiple areas of the market including general growth, the Info Tech sector, along with industries such as semiconductors and software. Outlined below are popular exchange-traded funds in each of the above-mentioned areas. See how each has performed so far on the week heading into Friday’s close.
Nasdaq ETFs: (QQQ) -3.5%, (QQQM) -3.5%, (QLD) -7%, (TQQQ) -11.9%, (QID) +7.5%, and (SQQQ) +11.4%.
Tech ETFs: (VGT) -4.5%, (XLK) -4.4%, (IYW) -4.7%, (FTEC) -4.5%, (IXN) -5.4%, and (RSPT) -3.6%.
Semiconductor ETFs: (SMH) -9%, (SOXX) -8.5%, (SOXL) -25.1%, (FTXL) -6.6%, (XSD) -6.4%, (USD) -16.1%, (PSI) -9.1%, and (SEMI) -4.9%.
Software ETFs: (IGV) -3%, (HACK) -2.8%, (XSW) +0.3%, and (SPAM) -1.1%.
Growth Focused ETFs: (VUG) -3.8%, (IVW) -3.7%, (SPYG) -3.5%, and (VONG) -3.8%.
