Technology Drags on U.S. Stock ETFs

U.S. markets and stock exchange traded funds were mostly flat Thursday as the technology sector weakened, with the broader Nasdaq Composite retreating led by a plunge in Nvidia (NasdaqGS: NVDA).

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were unchanged mid-Thursday.

Meanwhile, the PowerShares QQQ (NasdaqGM: QQQ), which tracks the Nasdaq-100, fell 0.4 Thursday as NVDA shares declined 9.0%. QQQ includes a hefty 57.2% tilt toward the technology sector.

U.S equities have been on a record-setting streak for the past two weeks after President Donald Trump announced major tax changes in the weeks ahead.