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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 339919, member: 104606"] [B][SIZE=5]The rally is over! NASDAQ leads US stock market declines[/SIZE][/B] [img]https://i.imgur.com/BpS8A1x.jpeg[/img] The halcyon days of US tech stock rallies with increasing values of companies listed on the NASDAQ exchange, which have taken place alongside the increasing values of other North American indices, have ended abruptly. The past few weeks have been of great interest, with the NASDAQ index leading the charge toward a seemingly unrelenting increase in value as confidence in large companies developing AI technology, such as NVIDIA, well known for its graphics cards and now highly engrossed in AI development, as well as strong performance from specialist American firms such as Broadcom and cloud computing giant Cloudstrike Holdings which have led the rally well into March. As well as the NASDAQ index having tailed off, other US stock indices have experienced similar decrements. The tables turned quite significantly at the end of last week; however, when the NASDAQ index began to reduce in value, the all-time highs of last week were not replicated this week. On Friday, the NASDAQ index was trading at 18,273.8 according to FXOpen pricing; however, as market participants anticipate the opening of the US market today, the tech-friendly index is valued at 17,975.7 at the bottom of the candlestick in the pre-market opening hours. In keeping with the nature of US tech stocks, volatility is once again a subject of discussion across mainstream reports and among analysts, especially given that one of the contingents of the NASDAQ index that was contributing to its rally, NVIDIA, has experienced a decline in stock value by 5.5%, according to some media reports, during the course of Friday last week after a substantial rally that has seen it gain approximately 80% year to date. [B][URL="https://fxopen.com/blog/en/gt-the-rally-is-over-nasdaq-leads-us-stock-market-declines/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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