Headline: Tech-Heavy Nasdaq Leads U.S. Market Selloff Ahead of Nvidia Earnings
Key Takeaways
U.S. equities slid sharply as risk sentiment weakened, with all major stock indices down more than 1.25%. The Nasdaq Composite led losses, dropping 1.83% to 22,296, while the Dow Jones Industrial Average fell 1.35% and the S&P 500 declined 1.26%. Investors turned cautious ahead of a key earnings report from Nvidia, a bellwether for semiconductor and AI-related stocks.
From a technical standpoint, the Nasdaq has slipped away from its 50-day moving average near 22,862 after oscillating around that level for two sessions. A close below it has tilted the near-term bias lower. The next support area sits around the October low near 22,204, followed by the rising 100-day moving average at 21,996. The index has not traded decisively below its 100-day moving average since May 9, a break that preceded a strong rebound following a 26% drawdown from the December 2024 peak. Despite today’s pullback, the Nasdaq remains up more than 15% year-to-date.
Nvidia headlines the week with earnings due tomorrow, and its stock reflects the market’s nervous tone. Shares fell 2.48% to $182.17, touching an intraday low of $179.65—just above the 100-day moving average at $179.52, where buyers emerged. After signaling roughly $500 billion in orders at its recent investor day, Nvidia’s stock ran to $212.19 before retreating more than 15% from that high. Broader AI sentiment was mixed as Anthropic outlined plans to spend $30 billion on compute capacity via Nvidia and Microsoft; even so, Microsoft shares slid 2.76%, underscoring the pressure across mega-cap tech and semiconductor names.
Key Points: – Nasdaq falls 1.83% to 22,296, leading a broad U.S. market decline; S&P 500 and Dow also drop over 1.25%. – Nasdaq slips below its 50-day moving average (22,862); next supports near 22,204 and the 100-day at 21,996. – The index is still up more than 15% for the year despite recent weakness. – Nvidia drops 2.48% to $182.17, briefly testing its 100-day moving average ahead of earnings. – Nvidia shares have pulled back over 15% from the recent $212.19 high following investor day optimism. – AI spending remains a focal point as Anthropic plans $30 billion in compute with Nvidia and Microsoft; Microsoft stock falls 2.76%.
Context
Current positioning around Market Analysis remains sensitive to primary-source updates, policy interpretation, and execution risk across major venues.
What To Watch
Key confirmation signals include sustained spot demand, funding stability, and whether price can hold reclaimed levels after headline-driven volatility.
If momentum weakens, traders will likely prioritize downside liquidity zones and risk-control positioning before adding new directional exposure.
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