Latest development3 months ago
Nasdaq Slides Amid Oil Shock and FOMC Anticipation
Major US indices led by the Nasdaq declined as oil prices spiked following Iranian escalation and caution ahead of the FOMC interest rate decision.
Read the full story
Global semiconductor stocks experienced a selloff that pressured Nasdaq 100 futures, leading traders to monitor the 50-day moving average support. Despite a brief recovery in chip stocks on July 10, the NASDAQ Composite fell 0.90% by July 13, slipping below its 200-hour moving average. Concurrently, the S&P 500 remained below key resistance levels while holding near its 200-hour moving average support.
Major US indices led by the Nasdaq declined as oil prices spiked following Iranian escalation and caution ahead of the FOMC interest rate decision.
Read the full storyThe Nasdaq fell 2.65% to 25,012 as technology shares faced heavy selling pressure, while rising 10-year Treasury yields added further weight to equity valuations.
Technical alerts warn of a multi-week corrective decline in US tech if the critical 28,200 support level is breached.
The Nasdaq Composite fell 0.90% breaking key technical support, while the S&P 500 remained resilient above its 200-hour moving average.
Tech stocks rally in pre-market trading, partially offsetting pressures from Federal Reserve policy uncertainty and lingering geopolitical risks.
Traders eye the 50-day moving average support for the Nasdaq 100 as global chip stocks face a multi-day slump.