The American NASDAQ Technology Stock Index has fallen for five days in a row and is the longest bearish streak since October 2022. CNBC writes about this.
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At the time of writing the news, NASDAQ recorded a fall of 4.17% over the last 5 days.
The decline in the index is due to falling prices for mega-cap technology stocks such as Apple (-6.27%).
Analysts note that the overall decline in the US stock market is due to uncertainty at Fed rates. This has investors worried that markets have been overvalued.
Overall, the latest results on Wall Street stand in stark contrast to how the market ended 2023. The S&P 500 ended last year up more than 24%, but in the new year the index has already lost 2%.