A 3.4% Nasdaq 100 drop and 4.2% tech-sector selloff erased over $1 trillion, while rising CDS costs for mega-cap tech signal deepening credit-risk hedging. This broadens the risk-off tone beyond equities, pressuring high-multiple growth and crypto risk assets, and likely keeps volatility elevated in the near term.
Affected assets
NCSINASDAQ1002USD/USDT+0.56%
AI Insight · NCSINASDAQ1002USD/USDTAI Insight
▼ Bearish
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The Nasdaq 100 fell 3.4%. The technology sector dropped more than 4.2%. The cost of hedging against debt defaults rose to its highest level since 2021.