Following a tumultuous trading session, the Nasdaq 100 index found itself at the lowest levels seen since early June, underlining a two-day plunge evocative of 2019’s market turmoil.
While an uptick in the second-quarter GDP rate and easing price pressures briefly lifted stocks, inciting a midday ascent by the Nasdaq 100, afternoon trading took a sharp turn as traders dialed down their expectations of a Fed rate cut.
Alphabet Inc. saw its shares decline as OpenAI rolled out new search features, triggering a market ripple that cascaded through the tech sector.
Tracking this cascade, the Nasdaq 100, as gauged by the Invesco QQQ Trust, represented by QQQ, has experienced a staggering 4.7% slump over the past two trading days, a downturn not witnessed since the turbulence of September 2019.
Nasdaq 100 Faces Steepest 2-Day Dip Since September 2019
Thursday’s Top and Bottom Performers in the Nasdaq 100
| Name | 1-Day % |
| Lululemon Athletica Inc. LULU | -9.03% |
| Atlassian Corporation TEAM | 6.34% |
| Alphabet Inc. GOOGL | -3.07% |
As market turbulence continues to shake the tech industry, investors brace themselves amidst the uncertainty swirling around the Nasdaq 100. It remains crucial to monitor the evolving landscape, learning from historical market fluctuations to navigate these challenging times.
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