The sharks are circling the ARK Innovation ETF and darling investor Cathy Woods. It’s set to open nearly 5% lower and that will put the money-weighted return of the fund underwater.
As you might imagine, it’s tech that’s looking ugly today with Nasdaq futures down 278 points after a 350 point (2.55%) decline yesterday.
It’s not looking that much better elsewhere. S&P 500 futures are down 54 points after yesterday’s 44 point decline and DJIA futures are down 301 points.