Nasdaq 100 May Fall into Technical Correction as AI Trades Are Rapidly Unwound
The Nasdaq 100 fell as much as 4.5% on Friday, dropping below 28,102.2 points, 10% below its recent high, and faces the risk of entering technical correction territory, which would mark the index's third decline of at least 10% this year. The selloff was mainly driven by investors dumping tech stocks whose third-quarter results disappointed.
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The Nasdaq 100 Index fell as much as 4.5% on Friday, bringing with it the risk of entering correction territory. This would be the index's third decline of at least 10% this year.
The tech-heavy Nasdaq 100 Index fell below 28,102.2 points, a level 10% below its most recent high; falling below it would meet the definition of a technical correction.
The decline was mainly driven by investors selling off tech stocks whose third-quarter results disappointed. news_keyword_pub,usstock,.IXIC iframe below body iframe below body General statement General statement QR code at end start QR code at end start
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