Tech Sell-Off Gains Momentum as Nasdaq 100 Breaks 200-Day Moving Average
The tech sell-off has accelerated, with top performers like Amazon, Nvidia, and Tesla experiencing significant declines. The Nasdaq 100 (^NDX) has broken its key 200-day moving average for the first time in nearly two years, signaling a shift in investor sentiment towards more defensive sectors. The prolonged uptrend, which spanned 497 days, was marked by a 73% return, but the latest downturn raises concerns about the broader market's resilience.
- The synchronized selling pressure across high-growth tech names is a stark reminder that investors are increasingly risk-averse, particularly in the face of geopolitical uncertainty.
- As the sell-off continues to intensify, will the market find an equilibrium point before triggering a more severe correction, or will the decline persist unchecked?