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Cathie Wood’s ARK Innovation ETF drops nearly 5% amid tech sell-off, is now off 30% from high – CNBC

The “disruptive innovation” fund is down more than 7.5% this week and more than 10% in 2021, while the S&P 500 has gained more than 10% this year.

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Star manager Cathie Wood’s flagship fund Ark Innovation is taking a beating Tuesday amid the sell-off in growth stocks.
Ark Innovation dropped 4.8% in midday trading Tuesday, alongside the Nasdaq Composite’s 2.5% tumble. The “disruptive innovation” fund is down more than 7.5% this week and more than 10% in 2021, while the S&P 500 has gained over 10% this year.
The fund is 30% off its high in February of this year, after which the ETF spiraled on the threat of rising interest rates.
“High multiple…

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