The Nasdaq-100 is made up of 100 of the largest nonfinancial companies listed on the Nasdaq stock exchange. It has delivered a return of 343% over the past decade, doubling the gain of the more diversified S&P 500 thanks to its high concentration of the world's largest tech stocks.
With the Nasdaq Composite (^IXIC 2.61%) down roughly 12% from its highs, many tech-related stocks have sold off heavily.
The stock market recently dipped into correction territory, which is defined as a decline of 10% to 20% from its recent peak. At the time of this writing, the Nasdaq Composite is down 9% year-to-date.
Down over 13% from its all-time high (achieved in December), the Nasdaq Composite is officially in a correction, which is defined as a drawdown of at least 10%.
The tech sector has been getting hammered so far this year, down 10.5% at the time of this writing, which is slightly worse than the Nasdaq Composite. The Nasdaq is in a correction -- down over 13% from its all-time high at the time of this writing.
Nasdaq 100 rebounds as Nvidia jumps 4% and Tesla gains. Can tech stocks sustain momentum, or is more volatility ahead?
10:05am: Markets bounce back Stocks are rallying in early trading on Friday as markets attempt to rebound from a tumultuous week that saw the S&P 500 enter correction territory. Just after the open, the Dow Jones is up 260 points or 0.6%, trading at 41,073.
After a bright start to the last trading day of the week, inflation threatened to spoil the party.
The Nasdaq-100 Index (NDX) is known for a lot of things — lengthy outperformance of the S&P 500 among them — but income isn't part of that list. Just look at the Invesco QQQ Trust (QQQ) and the Invesco NASDAQ 100 ETF (QQQM), both of which follow the NDX.
U.S. stocks traded higher this morning, with the Nasdaq Composite gaining around 1.5% on Friday.
With the Nasdaq Composite in correction territory, investors should consider investing some cash in the stock market. Corrections are defined as a decline of 10% from an all-time high, but they occur fairly often (just over every year since 1980).
The Nasdaq Composite index has entered correction territory as the tech-laden market index is now down more than 13% from the highs it achieved on Dec. 16 last year, and this souring market sentiment can be attributed to recent economic developments that have led investors to become risk averse.