The Nasdaq 100 Index fell into correction territory on Friday amid a deepening slump in the shares of technology giants that have powered the bull market for most of the past three years.
The tech-heavy benchmark fell 1.9% to close at 23,132.77, leaving the index down more than 11% from a peak in October. It’s the first time since US President Donald Trump’s tariffs sent stocks plunging in April 2025 that the Nasdaq 100 has fallen into a technical correction, which is defined as a decline of at least 10% but short of a bear market plunge of 20%.