The Nasdaq 100 (US Tech 100 mini on FXOpen) has fallen below 20,500 for the first time since November 2024.

Bearish sentiment driven by:
→ The latest US jobless claims report, which showed the highest figures of 2025.
→ Concerns over the destabilising and economically damaging potential of Donald Trump’s trade policies.

Nvidia (NVDA) Among the Biggest Losers

While the Nasdaq 100 lost over 2.5% in yesterday’s session, Nvidia (NVDA) shares plunged nearly 8% despite a stronger-than-expected quarterly report, as we noted yesterday.

Technical Analysis of the Nasdaq 100 (US Tech 100 mini on FXOpen)

The ongoing decline has resulted in a bearish breakout of the trendline (marked in blue) that originated in 2024. Based on key reversals (highlighted with red circles), the chart now outlines a descending channel. An attempted breakout (indicated by an arrow) failed, forming a bearish Rounding Top pattern.

If bearish sentiment prevails—especially with focus on inflation data, as the Core PCE Price Index is set to be released today at 16:30 GMT+3—Nasdaq 100 (US Tech 100 mini on FXOpen) may drop further towards the lower boundary of the descending channel.

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