- The Nasdaq 100 fell 3.34% at the close of the American session.
- ON Semiconductor is down 9.13%, while Constellation Energy is down 9.49% today.
- NVIDIA shares plunge to lows not seen since August 12.
The Nasdaq 100 hit a session high of 19,593, encountering aggressive sellers who drove the index to lows not seen since August 14 at 18,866. Currently, the Nasdaq 100 is trading at 18,951, losing 3.30% on the day.
Nasdaq 100 falls to three-week lows dragged down by ON Semiconductor, Constellation Energy and NVIDIA
The Nasdaq 100 is down 3.34%, dragged down by the semiconductor sector, with the companies reporting the biggest losses being ON Semiconductor, Constellation Energy and NVIDIA.
Shares of ON Semiconductor fell 9.13% to $70.76 at the close of trading. Constellation Energy lost 9.65% to $177.72 at the close of trading. Leading semiconductor company NVIDIA plunged 9.54% to $107.98, hitting lows not seen since August 12.
Technical levels on the Nasdaq 100
The Nasdaq 100 reacted lower at a short-term resistance given by the August 22 high at 19,936 which converges with the 78.6% Fibonacci retracement. The first support is found at 18,832, the August 14 low which converges with the 50% Fibonacci retracement. The next key support is at 17,272, the August 5 pivot point.
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.
