Nasdaq-100 Enters Correction as Tech Sell-Off Intensifies
The Nasdaq-100 Index entered correction territory after falling 10% from its June peak of 30,660. The decline is driven by a deepening sell-off in semiconductor and memory stocks, which have been hit hard amid concerns over slowing demand for tech products. Investors are reacting to broader macroeconomic pressures including rising interest rates and inflation fears that weigh on growth-oriented sectors like technology. This has led to increased volatility across the market with investors shifting toward more defensive assets or cash holdings in anticipation of further uncertainty. The index's correction highlights growing concerns about a potential tech sector downturn, especially as key components such as semiconductor firms continue to underperform.
Topics: correction Nasdaq 100 semiconductors