Tech Stocks In Flux: Nasdaq 100 Hits 50-Day Average Support
Monday, 26 August 2024, 13:32
Market Overview
The Nasdaq 100 faced challenges at the start of the week, with a 1% decrease that put its 50-day average support to the test. This downturn primarily impacted tech stocks, raising concerns across the market.
Sector Performance
- Various sectors felt the strain, with semiconductor stocks being notably affected.
- The iShares Semiconductor ETF (NYSE:SOXX) recorded a significant 2.5% drop.
Investor Sentiment
The decline has led to a cautious approach among investors as they adjust their expectations for tech shares going forward.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.