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Nasdaq 100 takes a look below 17k as NVIDIA slides

Following on from the previous update, noting the divergence between the Dow Jones and the Nasdaq 100 indexes on Friday, here is a closer look at what played out for the tech sector and that index. The Nasdaq 100 fell below 17k later on in the session. The low seen was set at 16,973- a fall of more than 400 points from where the index had closed on Thursday. However, a modest rebound kicked in during the final 15 minutes of trading and that helped the index close the week at 17,037 (-356 points). The drop from the record high (18,464.70 set on March 21), to the low seen on Friday defines a fall of just over 8% from its peak. The main driver behind the losses on Friday came from a more than 11% slide in the price of NVIDIA at one stage. However, the Asian markets (Ex China) are mostly higher this morning and that has helped the Nasdaq 100 futures to rebound. The Index is right now pricing a higher opening for later today, currently at around 17,130 
 

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