Nasdaq 100 suffers biggest daily fall of the year as big tech gets hammered

Yesterday there was no rebound for the tech sector and the Nasdaq 100. The index has reopened sharply lower to start with and left a yawning gap on the opening, which never came close to being filled. The Nasdaq 100 had closed on Tuesday at 20,398 and it gap-opened yesterday at 20,041. The later low on the session was set at 19,793 and it did not close much above that low either, ending the day, 599 points lower, at 19,799. The Nasdaq 100 closed 2.94% lower yesterday. The list of big names that got hammered was sure a roll call of the top gainers this year. ASML- down by 12.74%, AMD down by 10.21%, Arm Holdings down by 9.55%, QUALCOMM down by 8.61%, even NVIDIA handed back 6.62% and there were many others to note too.  Overnight the Asian markets are being led lower by the Nikkei 225, which is down over 2%. However, the Nasdaq 100 futures are a little higher so far today, currently indicating a reopening at around 19,850, but that is likely to change as the day unfolds