The Nasdaq 100 index encountered another descent on Thursday, sealing its destiny at the lowest point since early June post a day of tremendous volatility. Only a day before, Nasdaq 100 witnessed a 3.7% plunge, the most severe session downfall since October 2022.
Despite a second-quarter GDP growth rate that surpassed expectations and a decline in price pressures, momentarily uplifting stocks and risky assets – leading Nasdaq 100 to a 0.9% rise during afternoon trading in New York, the sentiment took a downturn in the afternoon as traders toned down their Fed rate cut expectations slightly.
Alphabet Inc. with GOOGL and GOOG faced a decline as OpenAI rolled out new search features to a select cohort of users.
Over the recent two sessions, Nasdaq 100, as represented by the Invesco QQQ Trust with QQQ, descended by 4.7%, marking its most abysmal two-day tumble since September 2022.
Nasdaq 100 Reels Under the Weight of Its Worst 2-Day Decline Since September 2022
Nasdaq 100 Paints a Dark Picture: Thursday’s Bottom 10 Stocks
| Name | 1-Day % |
| Lululemon Athletica Inc. LULU | -9.03% |
| Warner Bros. Discovery, Inc. WBD | -5.73% |
| Arm Holdings plc ARM | -5.45% |
| Honeywell International Inc. HON | -5.26% |
| Advanced Micro Devices, Inc. AMD | -4.36% |
| Booking Holdings Inc. BKNG | -3.86% |
| Intuitive Surgical, Inc. ISRG | -3.79% |
| ON Semiconductor Corporation ON | -3.67% |
| DexCom, Inc. DXCM | -3.57% |
| QUALCOMM Incorporated QCOM | -3.15% |
| Alphabet Inc. GOOGL | -3.07% |
Seeking Light Amidst Darkness: Thursday’s Top 5 Nasdaq 100 Performers
| Name | 1-Day % |
| Atlassian Corporation TEAM | 6.34% |
| Old Dominion Freight Line, Inc. ODFL | 5.74% |
| MongoDB, Inc. MDB | 4.83% |
| Gilead Sciences, Inc. GILD | 4.12% |
| O’Reilly Automotive, Inc. ORLY | 4.09% |
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