QQQ already dumped -1.90% on 6/16 (744 → 729.86) heading into Warsh's first FOMC, with BofA flagging at least three members projecting 2026 hikes in the new dot plot. Long-duration tech is the most rate-sensitive cohort; a hawkish SEP that removes the lone 2026 cut amid May CPI 4.2% YoY likely extends the breakdown for one more day.