The Invesco QQQ ETF, which tracks the Nasdaq 100 index, has crashed this year and moved into a correction after falling by over 12.8% from its highest level this year. It plunged to a low of $471, its lowest level since September last year.

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The Nasdaq party has been going on for a couple of years, but it seems the club owner has turned on the lights, with the index heading into correction territory. A stock market correction happens when a major index falls between 10% and 20% of recent highs,

The Invesco QQQ ETF has plunged and moved below the 200-day moving average as concerns about the equities market rose. The fund, which tracks the popular Nasdaq 100 index, dropped to a low of $480, down by almost 10% from its highest level this year.