QQQ drops 2.09% and trails SPY as weak services and consumer data meet technology pressure

QQQ opened 0.36% higher and SPY opened 0.08% higher, but both turned lower during the regular session. QQQ finished the period down 2.09% and SPY fell 1.66%, leaving QQQ behind by 0.43 percentage points. U.S. services activity slipped below 50, consumer sentiment missed estimates and existing-home sales also fell short. Reports involving Apple's modem strategy and possible EU charges against Google added technology-specific pressure as the decline unfolded.