Three separate Fed members said further evidence was needed before rate cuts. Fed speaker hawkishness sends all three stock indices lower. AMD slumps more than 8% on the change in sentiment. Industry group says chip sales rose 16% YoY in February. Advanced Micro Devices stock drooped 8.26% on Thursday after tech stocks sold off on hawkish statements by Fed eral Reserve officials. The NASDAQ reversed course from a gain of 1% earlier in the session to a loss of 1.4%.
What is the Nasdaq 100? The Nasdaq 100 is a large-cap index made up of 100 non-financial companies from the Nasdaq stock exchange. Although it only includes a fraction of the thousands of stocks in the Nasdaq, it accounts for over 90% of the movement. The influence of each company on the index is market-cap weighted. The Nasdaq 100 includes companies with a significant focus on technology although it also encompasses companies from other industries and from outside the US.
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