Checking your portfolio today probably felt like a punch to the gut. If you’re asking how did nasdaq do today, the short answer is: not great. Tech stocks took a beating, and the index slid to a one-week low. Honestly, it was one of those days where every time you refreshed the ticker, the red numbers just got bigger.
The Nasdaq Composite closed down 1.65% at 23,319.33. That’s a drop of nearly 390 points from yesterday’s close. If you’re tracking the Nasdaq 100—those big-name "Magnificent Seven" types—it was even rougher, finishing down 1.77% at 25,285.49.
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Why the Tech Sector is Shaking Right Now
You can’t point to just one thing. It’s a messy cocktail of geopolitical drama, stubborn inflation data, and some pretty mid-tier bank earnings.
First, let’s talk about Iran. Tensions are spiking. There’s talk of U.S. personnel being moved out of airbases in Qatar, and investors hate that kind of uncertainty. When the world feels unstable, people yank money out of "risk-on" assets like tech and shove it into "safe-havens" like gold or silver. Silver actually hit record highs today, which tells you everything you need to know about how scared people are feeling.
Then we have the data. The November Producer Price Index (PPI) came in at 3.0% year-over-year. That’s higher than the 2.7% everyone was expecting. Why does that matter? Because it means the Federal Reserve might not be as quick to cut interest rates as we’d hoped. Tech companies rely on low rates to fund their wild growth. When the Fed stays "higher for longer," tech stocks usually bleed.
The Big Names That Dragged Us Down
It wasn't just a broad market slump; some of our favorite giants really stumbled.
- Nvidia (NVDA): Down over 2%. Even though the government is letting them export H200 chips to China again, there are new "security requirements" that have investors biting their nails.
- Tesla (TSLA): Dropped 2.5%. Elon Musk basically said they’re moving to a subscription-only model for Full Self-Driving (FSD) starting next month. The market's reaction? A collective "yikes."
- Apple (AAPL) & Microsoft (MSFT): Both were in the red, down about 1.5% and 1% respectively.
- AppLovin (APP): This one was a disaster, cratering over 10%.
- Rivian (RIVN): Fell 7% after a downgrade.
Interestingly, it wasn't a total wash. Strategy Inc (MSTR)—the Bitcoin-heavy firm—jumped 3.4% because Bitcoin is hovering near $97,600. It seems the "crypto as digital gold" narrative is actually holding up for once.
The Bank Earnings Problem
You might think bank news wouldn't hit the Nasdaq that hard, but it sets the vibe for the whole market. Wells Fargo missed revenue targets and their stock dropped nearly 4%. When the big banks look shaky, it makes everyone doubt the strength of the consumer.
Wait, though. Retail sales actually rose 0.6% in November. That’s better than expected. Usually, that’s good news, but today it just added to the fear that the economy is "too hot," giving the Fed another reason to keep rates high. It’s a classic case of good news being bad news for the stock market.
What Most People Get Wrong
People often see a 1.6% drop and think the sky is falling. You’ve gotta zoom out. The Nasdaq is still up significantly over the last year. We’re in a consolidation phase. The index has been bouncing between 24,700 and 25,800 for a bit. Today was just a move toward the bottom of that range.
Is it a "crash"? No. Is it a "correction"? Maybe the start of one. But it's mostly just the market digesting a lot of bad news at once.
What You Should Do Next
Watching your net worth dip is stressful. I get it. But panicking rarely pays off.
- Check your exposure: If you're 90% in AI and semiconductor stocks, today hurt. Consider if you need more "boring" stuff like energy or utilities. Energy stocks actually climbed today because oil prices rose.
- Watch the Supreme Court: There’s a ruling on tariffs expected soon. That could swing the market even more than the Iran news.
- Don't fight the Fed: Keep a close eye on the 10-year Treasury yield. If it keeps climbing, the Nasdaq will likely keep struggling.
- Set your limit orders: If there are stocks you've wanted but they were too expensive, days like today are your shopping mall. Look for high-quality companies that got dragged down just because of the "market mood."
The trendline for 2026 has been broken, which means the "easy money" part of the year might be over. We're moving into a more tactical environment. Stay sharp, and don't let a one-day slide ruin your long-term plan.
If you want to stay ahead of the next move, you should look into the specific technical support levels for the QQQ. Watching the 50-day moving average will tell you if this is a temporary dip or a longer-term trend change.