ARK is small potato, these are large funds rotating out of tech, risk parity funds in the process of reducing leverage, CTAs etc
Whether the sell-off in tech continues is entirely dependent on the outlook for inflation and long-term rates. If Powell comes out on Monday talking up some form of yield control the rise in rates might slow down temporarily. In any case buying the dip in tech at this stage is tantamount to catching a falling knife. What's happening to interest rates is a fundamental shift. Understand that if the ten-year tops 2% the NDX will be below 11,000 and AAPL will trade well below $90. BTDers like Cathie will be severely burned, mark my words.