China policy and risk
New venture-capital funds targeted hard-technology startups, while sanctions on 20 U.S. defense companies and 10 executives added a geopolitical counterpoint.
Dec 26, 2025 · QQQ/SPY Market Review · 9 headlines
QQQ opened 0.10% higher but finished 0.12% lower, while SPY opened 0.01% higher and ended 0.07% lower. SPY outperformed QQQ by 0.05 percentage points. Chinese hard-technology funding and defense-company sanctions, together with two Ukraine-negotiation updates, provided the day's main context. The selected headlines were followed by moves of less than 0.10% in both ETFs over the next 15 minutes.
Published
New venture-capital funds targeted hard-technology startups, while sanctions on 20 U.S. defense companies and 10 executives added a geopolitical counterpoint.
Reports that Zelenskyy could call a referendum if a ceasefire accompanied Trump's plan, followed by Trump's approval requirement, framed the day's negotiation updates.
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