QQQ ETF Drops 2.97% to $601.92 as China Cuts Treasury Stake
China's U.S. Treasury holdings have fallen to $682.6 billion, just 7% of total market share—the lowest in 15 years—and pushing 10-year yields to 4.09%. Nasdaq-100 ETF QQQ is down 2.97% at $601.92, using a four-step bottom-spotting formula—fresh lows, prior high breakouts, volume surges and stops—to identify a reversal.
1. China's Treasury De-Risking
China's U.S. Treasury holdings have dropped from a 28% market share peak to 7% of the total, equating to $682.6 billion—the lowest level since 2008—as Beijing shifts reserves toward gold and hard assets.
2. Impact on Treasury Yields
The decline in Chinese demand coincides with steady U.S. government debt issuance, helping push 10-year Treasury yields to 4.09%, a more than 240% increase from pandemic lows of 1.20%.
3. QQQ ETF Performance
QQQ has fallen 2.97% year-to-date and closed at $601.92, trailing blue-chip benchmarks as higher borrowing costs weigh on growth-oriented technology stocks.
4. Four-Step Bottom-Spotting Formula
Traders are applying a four-step framework to QQQ: spotting a fresh low that flushes weak holders, a breakout above prior highs to signal buying control, surge in volume for institutional confirmation, and defined stop levels to manage risk.