Nasdaq 100 Slides 4.8% as Traders Dump Tech, Buy Defensive Names
NASDAQ 100 SLIDES 4.8% AS TRADERS DUMP TECH, BUY DEFENSIVE NAMES The Nasdaq 100 suffered a sharp 4.8% decline on Friday as investors aggressively rotated out of mega-cap technology stocks and into defensive sectors, marking a painful reversal in what had been a prolonged and powerful equity rally.