Skip to content

Billions in Wrong-Way Bets Poured Into Biggest Tech ETF

  • Biggest tech ETF posted best inflow since February on Monday
  • Nasdaq stocks tumbling Tuesday after hot inflation data

Economists weren’t the only ones caught off-guard by Tuesday’s hotter-than-expected inflation reading: A day earlier, investors were piling into the world’s biggest tech ETF at the fastest rate since February.

The $2.6 billion poured into the Invesco QQQ Trust Series 1 ETF (ticker QQQ) on Monday is now set to take an immediate hit after data showed US consumer prices jumped 8.3% from a year earlier, coming in above forecasts. The report triggered a stock slump that looks set to end a four-day rally as traders prepare for more aggressive Federal Reserve tightening.