Nasdaq-100 drops 2%; See what stocks are driving the index lower
Seeking Alpha News (Fri, 28-Mar 11:57 AM)
Lululemon Athletica (NASDAQ:LULU) is driving the Nasdaq-100 (NDX) into a sharp decline, with shares plunging 12.7% on Friday. The tech-heavy index is down 2% as traders contend with President Trump's increasing trade war concerns and renewed inflation concerns, all while consumer sentiment takes a hit.
While LULU is leading the charge lower, it’s far from the only stock feeling the heat. Here are the top 10 worst-performing Nasdaq-100 stocks of the day so far.
No. 10:GlobalFoundries (NASDAQ:GFS), -3.6%.
No. 9: KLA Corporation (NASDAQ:KLAC), -3.7%.
No. 8: MongoDB (NASDAQ:MDB), -3.8%.
No. 7: Marvell Technology (NASDAQ:MRVL), -4%.
No. 6:PayPal (NASDAQ:PYPL), -4.1%.
No. 5: DoorDash (NASDAQ:DASH), -4.3%.
No. 4:ON Semiconductor (NASDAQ:ON), -4.9%.
No. 3: Palantir Technologies (NASDAQ:PLTR), -5.6%.
No. 2: MicroStrategy (NASDAQ:MSTR), -6.2%.
No. 1: Lululemon Athletica (NASDAQ:LULU) -12.7%.
Prices are reflected as of 11:45 am EST.
Moreover, see how Seeking Alpha’s quant grades list the 10 above names: GFS 3.00, KLAC 3.66, MDB 3.40, MRVL 3.75, PYPL 4.30, DASH 3.33, ON 3.50, PLTR 3.14, MSTR 3.00, ad LULU 3.00.
As the Nasdaq-100 tumbles, so too does Wall Street's fifth-largest exchange-traded fund. The Invesco QQQ Trust ETF (NASDAQ:QQQ), with $302.38B in assets under management, has also fallen by 2%.
Furthermore, see some other Nasdaq-100 (NDX) and Nasdaq Composite (COMP:IND) focused exchange traded funds: (NASDAQ:QQQM), (NYSEARCA:QLD), (NASDAQ:TQQQ), (NYSEARCA:QID), and (NASDAQ:SQQQ).
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