Nasdaq Leads 2.5 Percent Equity Drop on Broad Tech Selling

Index Performance Snapshot

SPX closed at 7659.44 down 1.09 percent because broad equity supply hit the session which means large cap participation turned negative across the board. Nasdaq fell 2.5 percent to 29187.55 because large tech names led the decline across the board which means growth exposure absorbed the heaviest losses. QQQ dropped 2.5 percent to 709.80 which means the largest semiconductor and software constituents drove the index lower. SPY finished at 763.25 down 1.11 percent after testing a low of 760.64 which means the ETF printed its session range inside prior support. Russell 2000 closed at 2721.37 down 1.66 percent because small cap names followed the large cap move lower with no relative outperformance. Dow closed at 52002.41 down 0.34 percent which means blue chip defensive names limited the downside relative to tech.

Futures Overnight Picture

ES futures traded at 7780.5 up 0.13 percent because partial recovery attempts emerged after the cash close which means overnight sentiment remains mixed rather than uniformly negative. NQ futures sat at 30006.5 down 0.58 percent which means Nasdaq led supply carried into the overnight session. YM futures reached 52418.0 up 1.08 percent because Dow components showed relative resilience. RTY futures printed 2779.7 up 1.26 percent which means small cap futures diverged positively from cash equity closes. Crude at 98.98 up 1.03 percent and gold at 4188.8 up 0.45 percent because haven and supply factors aligned in commodities.

Support and Resistance Levels

SPY support sits at 760.64 and resistance at 773.24 because the session low and prior close define the immediate boundaries which means a reclaim of 773.24 would alter the short term structure. Nasdaq support rests at 29073.29 and resistance at 29822.91 because those marks bracket the day’s extremes which means sustained trade below 29073 would extend downside pressure. Gold at 4188.80 and crude at 98.98 because both commodities posted gains that offset equity weakness.

Scenario Triggers and Weights

Continuation lower carries 45 percent weight if Nasdaq stays below 29073.29 because uniform index weakness would extend the move. Partial recovery holds 35 percent weight if ES reclaims 7780.5 because mixed futures already show selective bid interest. Sharp reversal gains 20 percent weight if SPY closes back above 773.24 because that would erase the day’s net decline in one session.

Risk and Experience Watchpoints

Risk stands at 42 percent because the 2.5 percent Nasdaq decline lifted volatility expectations sharply. Position Pressure shows mixed whale flow keeps near term bias neutral until the next expiry cluster.

Equities closed sharply lower with Nasdaq leading the fall while futures show a mixed overnight picture.

This is analysis, not financial advice. Always manage your risk.