The Invesco QQQ Trust (QQQ) closed at $515.18 on January 7, 2025, down 1.78% as the Nasdaq 100 index faced significant headwinds from rising Treasury yields and profit-taking in tech stocks. The Nasdaq 100 index itself fell 1.79% to 21,173.04. The spike in yields was driven by stronger-than-expected economic data, including the ISM Services PMI, which raised concerns about persistent inflation and reduced the likelihood of Federal Reserve rate cuts. The 10-year Treasury yield rose to 4.693%, its highest level since April, contributing to the sell-off in equities. Additionally, semiconductor stocks, which are major components of the Nasdaq 100, faced pressure amid uncertainties in the Chinese market and technical indicators suggesting potential further declines.