Cathie Wood's ARKK on the verge of taking out its Covid-19 low

The drubbing in Cathie Wood’s flagship exchange-traded fund threatens to take out its low reached during the depths of the pandemic.
 

The $7.1 billion ARK Innovation ETF (ticker ARKK) hovered near its lowest closing level since March 2020 on Tuesday. The fund has plummeted 61% so far in 2022, more than twice the pace of the plunge in S&P 500.

The year hasn’t been kind to the ETF and growth-centered products as the Federal Reserve raises rates to knock down scorching levels of inflation. Wood this week took the central bank to task for its aggressive tightening campaign, penning an open