The Nasdaq Composite fell into correction territory, falling 4.5% below its 200-day moving average, as investors became increasingly uneasy about the impact of global trade tensions and the outlook for artificial intelligence. The tech-heavy index has been tracking a key resistance level, which could determine its next move.
Investors are on high alert due to renewed worries over tariffs and their effect on trade. Marvell Technology Inc.’s recent earnings report only exacerbated concerns, as it highlighted ongoing competition in the AI market despite meeting expectations. This combination of factors led to a sharp decline in Nasdaq Composite stocks, sending shockwaves through financial markets.
The S&P 500 has been monitoring this key level for several days, with its performance seen as a gauge of investors’ confidence and anxiety levels. As tensions rise, the stock market’s response becomes increasingly important, with the possibility of a broader correction on the horizon.
Source: https://www.marketwatch.com/story/nasdaq-falls-back-into-correction-territory-as-s-p-500-tests-a-line-in-the-sand-watch-these-levels-c2d9812b