Will Trump back down? Nasdaq 100 investors holding their breath

The Nasdaq 100 was the worst performing major US stock market index on Friday, when it crumbled more than 6% into the close. The index ended the week, 1,123 points lower, at 17,397. The Nasdaq 100 futures got smashed again on the Asian opening and at one point earlier this morning, as the European markets were hammered into the opening, the Nasdaq 100 was priced to reopen as low as 16,325. It has managed to lift from that low since, but it is still priced to reopen sharply lower later on. The exact level of that opening is going to change many times in the coming hours and right now tech investors are holding their breath and surely hoping for a U turn from the US President. The problem is; Trump  said that would not happen over the weekend. So, with these tariffs due to kick in on Wednesday (April 9) the tech sector is hoping he will back down. He might of course and perhaps if he does there will be a massive relief rally. In the absence of that this massive multiyear unwind is still in play. The Nasdaq 100 is currently priced to reopen around 16,745