BusinessPhoto: Mint MarketsNasdaq 100 Enters Third Correction of 2026 Amid Tech Stock Selloff
The Nasdaq 100 Index fell over 10% from its recent peak, marking its third technical correction of 2026. The drop, reaching as much as 4.5% on Friday, followed disappointing earnings from major tech firms including Alphabet, Amazon, Intel, and ServiceNow. Market strategist Matt Maley noted the broad tech sector selloff is causing wider market turmoil. This volatility echoes the frequent swings seen in 2022 during the Fed's rate hikes and inflation.
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