QTEC - Technology is the worst performing market sector see which ETFs suffered

May, 10 2021 04:30 PM First Trust NASDAQ-100 Technology Sector Index Fd

Closing out the financial markets on Monday and the investment community can see that the information technology space was the sector that dragged the most. The Nasdaq finished the day -2.55% and had its worst day since mid-March earlier this year.With the Nasdaq sliding it pulled down some key technology and growth-related exchange traded funds to the downside. A handful of notable names that slid to the downside on the day are (PTF) -5.34%, (XNTK) -3.82%, (QTEC) -3.41%, (IGM) -2.73%, (VGT) -2.60%, (QQQ) -2.53%, and (XLK) -2.50%.All of the FAANG names also finished in the red furthering the catalyst in a tech selloff day. The day's downside performance comes as market participants have their eye on inflation figures.In other tech-related news, Citi downgrades Alphabet and Facebook from Buy to Neutral as the firm moves away from recommending "any large cap, ad centric, Internet stock".

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Technology is the worst performing market sector, see which ETFs suffered

Company Name:	First Trust NASDAQ-100 Technology Sector Index Fd
Stock Symbol:	QTEC
Market:	NASDAQ

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