Per Yahoo Finance, Nasdaq 100 (NQ) futures led the declines this morning, falling ~0.8% as the US and Iran exchanged fire and oil jumped. Tech is the most rate-sensitive, high-beta corner of the market and QQQ sits near record highs on an AI rally with concentrated top-10 weightings, so a geopolitical risk-off shock plus SK Hynix-led memory volatility points to QQQ lower over the next day.