Nasdaq 100 closes the week in losses dragged down by CrowdStrike Holdings’ global failures

• Nasdaq 100 ends the week down 3.84%.
• The latest flawed update to CrowdStrike Holdings’ Falcon platform is causing chaos worldwide.
• CrowdStrike is punished by the market, reporting a loss of 11.30% daily.

The Nasdaq 100 hit a daily high of 19,793 during the European session, encountering aggressive short-sellers who have pushed the tech-heavy index to a daily low of 19,476 during the American session. The Nasdaq 100 is currently trading at 19,555, down 0.79% on the day.

Nasdaq 100 signs its fourth consecutive session down, dragged down by CrowdStrike Holdings

A buggy update for CrowdStrike Falcon that conflicts with Windows has caused serious problems at major airports around the world. Airlines such as American Airlines, United and Delta have experienced flight delays and cancellations. Some hospitals and financial institutions have reported system issues, resulting in multi-million dollar losses for the companies.

The flawed update causes the Windows operating system to reboot over and over again, and there is no official fix available at this time. Brody Nisbet, CrowdStrike’s director of monitoring, said the most effective route to getting computers up and running is to boot the machines into safe mode and delete a specific file before rebooting.

Investors are punishing CrowdStrike stock as it trades at $301.40, down 12.07% today.

Technical levels on the Nasdaq 100

The Nasdaq 100 continues its short-term downtrend, forming resistance at 20,000, given by the July 18 high and the 13-period Exponential Moving Average. The first support is at 19,500, given by the 50% Fibonacci retracement. The next support is at 18,190, the May 31 low.

Nasdaq 100 daily chart