
The Nasdaq-100 Index ($IUXX) has experienced a significant tech-driven selloff, down 2.5% from last week’s highs as investors grow increasingly wary of artificial intelligence (AI) valuations and upcoming Federal Reserve commentary. The decline has been particularly concentrated in major tech stocks, with Magnificent 7 companies like Nvidia (NVDA), Tesla (TSLA), and Meta Platforms (META) leading the downturn amid mounting skepticism about AI hype.