Nasdaq 100 hits 7-week lows during tech rout
The Nasdaq composite index (Symbol: NAS100) experienced significant declines, closing at its lowest level after another volatile session. This marks the worst two-day drop in nearly two years as the tech sector continues to struggle.
Despite higher-than-expected second-quarter GDP growth and decreasing price pressures, which briefly boosted stocks and risky assets with the Nasdaq 100 rising during midday trading in New York, sentiment shifted in the afternoon. Traders slightly reduced their Fed rate cut bets, leading to further declines.
Learn more about the reasons behind the Nasdaq declining.
Disclaimer:
The sharp declines highlight the importance of closely monitoring market sentiment and key economic indicators. With the recent shifts in Fed rate cut bets, traders should be cautious and consider potential rebounds or further declines in the coming sessions.
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