STOCKS | Nasdaq 100 Risks Technical Correction as AI Trades Unwind Rapidly

The Nasdaq 100 briefly fell 4.5% on Friday, putting it at risk of entering a technical correction. According to Sina Finance, the index fell below 28,102.2, a level 10% below its recent high; a drop below that threshold meets the definition of a technical correction. This would be the index’s third decline of at least 10% this year. Selling was driven mainly by disappointing third-quarter results at technology companies, while the rapid unwinding of AI trades also weighed on the index.