QQQ and SPY fall about 1.5% amid hotter inflation, Fed projections and energy attacks

QQQ opened 0.30% below the previous close and finished down 1.51%. SPY opened 0.37% lower and ended down 1.47%, leaving QQQ behind by 0.04 percentage points. February PPI rose 3.4% from a year earlier and core PPI reached 3.9%. FOMC projections put end-2026 unemployment at 4.4% and PCE inflation at 2.7%. Iran's president confirmed the death of the intelligence minister in an Israeli attack, while Qatar said an Iranian missile caused significant damage at an LNG hub. Micron reported quarterly earnings and sales above estimates after the close.