In a year dominated by fear and risk-off sentiment in the markets, not all sectors and industries are performing equally. While the overall market has declined 7.5% from its 52-week high, the technology sector has fared worse, with the QQQ ETF dropping nearly 11% from its peak.
A significant portion of the tech sector, particularly the QQQ ETF, is made up of the Magnificent Seven, which have collectively fallen 13% year-to-date (YTD) and nearly 20% from their 52-week high, based on the Roundhill Magnificent Seven ETF (NASDAQ: MAGS).
