Market Shows Significant Declines Today: Major Drops in ETFs and Company Stocks

Font: Financial Modeling Prep  • May 21, 2026

• The market experienced widespread declines, with significant drops observed across various exchange-traded funds (ETFs) and individual company stocks.
• Leveraged ETFs demonstrated extreme volatility, including a short ETF plummeting 66.69% and a long ETF falling 18.74%, reflecting sharp movements in their underlying assets.
• Several prominent companies, such as Intuit (NASDAQ: INTU), Micware (NASDAQ: MWC), and SELLAS Life Sciences (NASDAQ: SLS), saw their shares drop despite recent positive news, indicating broader market factors influencing performance.

The market shows significant declines today, with major drops seen in several exchange-traded funds (ETFs) and company stocks. The biggest losers include a leveraged short ETF, a financial software provider, and a biopharmaceutical company. These movements highlight how specific company news and broader market forces can impact prices.

The largest drop is from the Defiance Daily Target 2X Short QBTS ETF (NASDAQ: QBTZ), which falls 66.69% to $5.04. This ETF is designed to deliver two times the opposite performance of its underlying asset. For it to fall so sharply, the asset it shorts, QBTS, must have had a very strong positive day.

Intuit, the company behind QuickBooks and TurboTax, sees its shares fall 20.02% to $307.07. This $76.86 drop occurs on a high trading volume of 22.2 million shares. This decline is surprising because Intuit recently reported a strong third-quarter earnings beat and raised its future financial guidance, citing growth in its main business segments.

Other funds also face losses. The Leverage Shares 2x Long SATS Daily ETF (LON: SATG), declines by 18.74% to $18.91. This type of ETF aims to double the daily return of a stock. Its fall suggests the underlying SATS stock had a significant negative day. This ETF traded 690,946 shares, well above its average.

Similarly, Micware, an automotive software developer, sees its stock decrease by 17.48% to $5.90. This happens despite the company recently receiving an "Excellent Appreciation Award" from Honda Motor Co., Ltd. for its development work. Also, shares of SELLAS Life Sciences, a biopharmaceutical firm, drop 15.72% to $7.56, even after announcing a positive update for its leukemia treatment pipeline.

In summary, the day's biggest market losers show a disconnect between company news and stock performance. While some declines, like those in leveraged ETFs, follow their intended mechanics, major companies like Intuit, Micware, and SELLAS fell despite recent positive announcements, suggesting other market factors were at play.