Tech Stocks Retreat as Powell’s Caution Weighs on Nasdaq 100

The Nasdaq 100 Composite Index closed lower for a second consecutive session on Tuesday, pressured by a combination of profit-taking in major technology stocks and cautious commentary from Federal Reserve Chair Jerome Powell. The index finished the day down 180.90 points, or 0.73%, settling at 24,580.17.

Market dynamics revealed a consistent downward trend throughout the trading day. After opening at 24,752.74, the index briefly touched a high of 24,764.30 before sellers took control, driving the benchmark to an intraday low of 24,536.50. The bearish sentiment was further evidenced by a rise in the CBOE Nasdaq 100 Volatility Index (VXN), which climbed 0.84% to 20.30, signaling increased investor anxiety.

External market factors compounded the pressure on growth-oriented stocks. A strengthening U.S. dollar and rising Treasury yields created a challenging environment, with the yield on the 10-year... Read more...