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

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 Trust QQQ, 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

Thursday’s 10 Worst Performers Among Nasdaq 100 Stocks

Thursday’s 5 Best Performers Among Nasdaq 100 Stocks

Read Next:

• Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They ‘Will Return To Larger-Cap Alternatives,’ Veteran Analyst Says

Photo via Shutterstock.