QQQ and SPY finish near 2% lower as trade-policy risk stays in focus

QQQ opened 1.70% below its previous close and finished down 1.98%. SPY opened 1.39% lower and ended down 1.88%, outperforming QQQ by 0.10 percentage point. Tariff uncertainty remained prominent as the Supreme Court issued no ruling on the global-tariff challenge and the European Parliament froze approval of the EU-U.S. trade agreement. ADP's weekly measure slowed to 8,000 private-sector jobs per week from 11,750, while Bessent said the next Federal Reserve chair choice could come next week. G42's expected deliveries of advanced Nvidia, AMD and Cerebras chips kept AI infrastructure in view.