[VIDEO] NASDAQ 100 hardest hit in the wake of the stock selloff

The index put in a high of 13,900.5 on February 16th, posting a false breakout above the wedge.

U Turn 1

Stocks indices have gotten hit hard, particularly over the last week, as a rise in  inflation expectations led to a rise in yields, which has caused stocks to move lower.

The tech heavy NASDAQ 100 has been one of the hardest hit, not only because of the rise in yields but also because of the rotation trade, out of the “stay at home stocks” and into the “go outside” stocks.   

The index put in a high of 13,900.5 on February 16th, posting a false breakout above the wedge.  On Thursday price broke lower and is roughly 12% off its February 16th highs, retracing 50% of its move from the September 21st lows to the February 16th highs. This puts the index in bear market territory .

Click here to see some these highly volatile tech stocks

Yields, inflation expectations, and now jobs data (after todays strong NFP) will all be in play next week to try and get any clues as to where the NASDAQ may be headed next.

Learn more about index trading opportunities.


 

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.