The QQQ Was Hammered Again Today. Here's Why.

U.S. indices were trading lower across the board Wednesday after CPI data showed an increase in U.S. inflation, which has weighed on stocks.

The Invesco QQQ Trust Series 1 QQQ fell sharply by 2.59% to $316.89.
The SPDR S&P 500 ETF Trust SPY closed lower by 2.12% at $405.41.
The SPDR Dow Jones Industrial Average ETF Trust DIA also fell by 2.02% at $336.

Here are the day's winners and losers from the QQQ, according to data from Benzinga Pro.

Top gainers for the Nasdaq were Incyte Corporation INCY, Intuit Inc. INTU and Regeneron Pharmaceuticals Inc REGN.

Intuit shares were trading higher after the company reported it expects to exceed FY21 guidance.

Tesla Inc TSLA, Applied Materials, Inc. AMAT and Lam Research Corporation LRCX were among the biggest laggards for the Nasdaq Wednesday.

Tesla shares were trading lower as inflation concerns continue to pressure growth stocks.

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