Nasdaq 100 Falls To 7-Week Lows, Marks Worst 2-Day Drop In Nearly 2 Years As Tech Rout Rages On - Invesco

Benzinga

2024-07-26 01:02

Nasdaq 100 index falls to its lowest level since June amid volatility. Despite a brief boost from Q2 GDP growth and decreasing prices, it dropped 4.7% in 2 sessions.

　　The Nasdaq 100 index experienced another decline on Thursday, closing at its lowest level since early June after a volatile session. The previous day, the Nasdaq 100 dropped 3.7%, its worst session since October 2022.

　　Despite a higher-than-expected second-quarter GDP growth rate and decreasing price pressures, which briefly boosted stocks and risky assets and saw the Nasdaq 100 rising 0.9% during midday trading in New York, afternoon trading brought a sentiment shift as traders slightly reduced their Fed rate cut bets.

　　Alphabet Inc.GOOGL GOOG tumbled as OpenAI introduced new search features to a select group of users.

　　Over the last two sessions, the Nasdaq 100, as tracked by the Invesco QQQ TrustQQQ, has fallen by 4.7%, marking its worst two-day drop since September 2022.

　　Chart: Nasdaq 100 Faces Worst 2-Day Dip Since September 2022

　　Thursdays 10 Worst Performers Among Nasdaq 100 Stocks

Name	1-Day %
Lululemon Athletica Inc.LULU	-9.03%
Warner Bros. Discovery, Inc. WBD	-5.73%
Arm Holdings plcARM	-5.45%
Honeywell International Inc.HON	-5.26%
Advanced Micro Devices, Inc.AMD	-4.36%
Booking Holdings Inc. BKNG	-3.86%
Intuitive Surgical, Inc.ISRG	-3.79%
ON Semiconductor CorporationON	-3.67%
DexCom, Inc.DXCM	-3.57%
QUALCOMM IncorporatedQCOM	-3.15%
Alphabet Inc.GOOGL	-3.07%

　　Thursdays 5 Best Performers Among Nasdaq 100 Stocks

Name	1-Day %
Atlassian CorporationTEAM	6.34%
Old Dominion Freight Line, Inc.ODFL	5.74%
MongoDB, Inc.MDB	4.83%
Gilead Sciences, Inc.GILD	4.12%
OReilly Automotive, Inc.ORLY	4.09%

　　Photo via Shutterstock.

Disclaimer:The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.