- The Nasdaq 100 technology index closed with a loss of 3.63%.
- Tesla shares fell 12.33%, one day after publishing its quarterly earnings report.
- The Trade Desk posted a loss of 11.48% at the close of trading.
The Nasdaq 100 set a daily high of 19,702 during the European session. However, it found sellers who pushed the tech-heavy index to a session low of 19,009. At the close of trading, the Nasdaq 100 was trading at 19,037, losing 3.63% on the day.
Investors take profits in Tesla after earnings report
Tesla shares closed at $215.99, down 12.33%, today. Investors have taken profits following the company’s earnings report, where it reported earnings per share of $0.52, falling below the market’s expected $0.612.
On the other hand, the digital marketing company, The Trade Desk, fell 11.48%, trading at $89.32, at the close of the day.
The Nasdaq 100 has recorded its biggest drop since October 2022, weighed down by major technology companies, with NVIDIA standing out with a loss of 6.80%, Meta falling 5.61% and Alphabet with a loss of 5.04%.
Technical levels on the Nasdaq 100
The Nasdaq 100 established resistance at 19,910, today’s session high, respecting the 13-period exponential moving average. The first support is at 19,800, in convergence with the 23.6% Fibonacci retracement. The next support is at 18,190, the May 31 low.
Nasdaq 100 daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
