US100 – The AI Trade That Drove the Rally Is Starting to Crack

The Nasdaq 100 just posted its sharpest two-day slide from record highs. The same handful of AI names that built this rally are now leading it lower. Add a hawkish Fed and bond yields at multi-year highs, and the pressure on expensive tech is real. Thursday's PCE report will show whether this is a pause — or the start of something more significant.

Born2trade | 134 hari yang lalu

The Nasdaq 100 is trading around 29,540, down from its record near 30,600 just two days ago. The big technology stocks that led the market have turned lower this week. Alphabet dropped roughly 5% after reports that key AI talent is departing. Amazon, Meta, and Microsoft followed. Even SpaceX — the month's most-watched new listing — is down about 16% from its opening days.

Why does this matter? This rally has been carried by a small group of AI giants. When most of the index's gains are concentrated in just a few names, a selloff in those names can drag the whole market lower. That is exactly what began this week.

A second headwind is now in play. After the Fed's hawkish pivot, bond yields climbed to multi-year highs — and higher yields hit expensive tech stocks the hardest.

Still, one down week does not make a trend. The AI story may simply be taking a breath after an extended run. Thursday's PCE inflation report is the next test. A hot reading would add pressure; a soft one could calm nerves.

US100 key levels:

Resistance: 29,800, then 30,200.
Support: 29,300, then 29,000.

Watching: the major AI stocks, bond yields, and Thursday's US PCE inflation report.

By Born2trade market research department

Risk Disclaimer: All research and/or forecasts above reflect the author's personal opinion and cannot be treated as trading advice. Born2trade is not responsible for any trading results based on any information in this article. Trading Forex and CFDs carries a high level of risk to your capital. You may lose all of your invested funds. Forex and CFD trading may not be suitable for all investors. Please ensure that you fully understand the risks involved and, if necessary, seek independent advice.

US100 – The AI Trade That Drove the Rally Is Starting to Crack

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EURUSD	1.12192	GBPUSD	1.34497
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