The week started on a sour note for the Nasdaq 100, which slipped by 1%, erasing the gains made last Friday when the index rallied following Fed Chair Jerome Powell‘s hint at a possible rate cut during his much-anticipated speech at Jackson Hole.
Monday brought no significant news or economic data directly impacting tech stocks, reflecting a cooling of risk sentiment after the tech-heavy index had surged over 14% since its August lows.
Two main factors weighed on the Nasdaq 100 on Monday, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ): the decline in semiconductor stocks and the ...