An exchange traded fund tracking the Nasdaq-100 Index was down nearly 2% in Monday’s sell-off as concerns over Eurozone debt stalked U.S. equities.
Top holdings Microsoft (NasdaqGS: MSFT) and Intel (NasdaqGS: INTC) both slipped more than 1%.
Technically, PowerShares QQQ (NasdaqGM: QQQ) has been struggling at a key level as it tries to retrace losses going all the way to the dot-com bust. [Market Looks for Direction in Apple, Nasdaq]
The Nasdaq-100 ETF was up 6.2% year to date through May 20, according to investment researcher Morningstar.
“Investors craving a large helping of large-cap growth stocks with a strong tilt toward the technology sector can consider PowerShares QQQ, which is one of the four most actively traded ETFs on the market,” analyst Robert Goldsborough writes in a profile of the fund.
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