2 days ago
#NASDAQ has worst start of the year since 2008 #stocks $NDX $QQQ
Tech-heavy benchmark, the Nasdaq Index made its worst start of the year since 2008, down around 11% year to date. Negative sentiment, and a great deal of apprehension as the Fed plans to begin withdrawing its record stimulus, is partly to blame, but also significant uncertainty around earnings season and rising costs is causing buyers to stay on the sidelines. On a technical level, traders will be watching for the index to hold the October 2021 lows, about 2% lower from current levels. Markets could find some relief next week in the Wednesday FOMC, and continuation of earnings of the US tech giants.