The Invesco QQQ Trust (QQQ) closed at $522.56 on December 27, 2024, down 1.33% as tech stocks led a broader market decline. The NASDAQ-100, which QQQ tracks, fell 1.36% to 21,473.02, driven by a selloff in major tech names like Tesla, which dropped 5%, and Nvidia, which fell nearly 3%. Rising Treasury yields, with the 10-year note reaching 4.63%, added pressure by making equities less attractive. The Magnificent Seven stocks, which have been key drivers of the index's gains, faced profit-taking as investors reassessed valuations amid thin holiday trading volumes. Analysts noted that the NASDAQ-100's high valuation, trading at 38 times earnings, has made it vulnerable to pullbacks, especially with limited earnings news to support further gains.