Cathie Wood, chief executive officer and chief investment officer of ARK Investment Management LLC, speaks during the Sooner Than You Think conference in the Brooklyn borough of New York on Tuesday, Oct. 16, 2018.
Alex Flynn | Bloomberg | Getty Images
Star manager Cathie Wood’s flagship fund —ARK Innovation — is taking a beating on Tuesday amid the sell-off in growth stocks.
ARK Innovation dropped 4.8% in midday trading on 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 more than 10% this year.
The fund is 30% off its high in February of this year, after which…