Nasdaq-100 drops 1.95% as tech selloff deepens on July 27

The Nasdaq-100 fell 1.95% to 27,858 on July 27, erasing intraday gains as technology stocks sold off into the close.

The index opened at 28,412 and rose to a session high of 28,460 before reversing sharply in afternoon trading, hitting a low of 27,856. The 604-point intraday swing represented a 2.13% amplitude, among the widest trading ranges of the month. Volume totaled 347 million shares as selling accelerated through the final hour, with the close settling just two points above the session low.

The decline pushed the index further from its recent highs, with the close near the low suggesting sustained selling pressure. The move marked a reversal from the opening advance, with the index giving back more than 550 points from its intraday peak. The wide trading range reflected heightened uncertainty among growth-stock investors.

Traders will watch the next session's open to gauge whether the selloff extends or buyers step in at these levels. The index's ability to hold above 27,800 in the coming sessions may determine near-term direction, with the prior week's highs serving as the next resistance zone.

This article is for informational purposes only and does not constitute investment advice.