Cathie Wood’s Misery Mounts as ARKK Assets Dip Below $20 Billion
- Flagship ETF extends decline after worst day in seven weeks
- Investor exits and tech selloff combine to erode assets
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Cathie Wood’s miserable month continued on Tuesday, as her flagship exchange-traded fund extended declines and its assets dropped below $20 billion to the lowest since January.
The Ark Innovation ETF (ticker ARKK) slid 1% as of 9:47 a.m. in New York. Caught in a broad tech selloff, the product has fallen for nine of the past 10 sessions, a retreat that accelerated on Monday in the biggest slide in about seven weeks.