Tech ETFs That Drew Billions Are Battered by Losses Hitting 60%
- The tech funds have suffered big losses in recent weeks
- Investors fret over worsening economic data, earnings releases
The data underscores how much investors have been blindsided by the swift shift in sentiment.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Traders plowed billions of dollars into betting on a big rebound in tech stocks last month. Now their leveraged-up ETF positions are getting thrashed in the sweeping market meltdown.
Even as the Nasdaq 100 Index tumbled in July, cash continued flowing into funds with notable exposures to companies like Nvidia Corp. and Intel Corp., indicating investors were wagering the slump would prove short lived.