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Nasdaq 100 Falls 2%, Heading for Its Biggest Daily Drop Since March 26

The index extended intraday losses to 2%, putting it on pace for its sharpest one-day decline since March 26, according to the source.

Fact Check
The claim is strongly supported by multiple independent sources. The original X post by @KobeissiLetter explicitly states the Nasdaq 100 dropped 2% on May 15, 2026, heading for its largest daily decline since March 26. Trading Economics data for the US100 index independently confirms a -1.96% to -2.02% daily decline on May 15, 2026. The Motley Fool article corroborates that March 26, 2026 was indeed a significant down day for the Nasdaq (falling 2.4%), validating the reference point. The CNBC live markets page and Trading Economics US stock market page further confirm broad market weakness on May 15. The slight discrepancy between the claim's '2%' and Trading Economics' reported '-1.96%' is within rounding and intraday variation, and does not undermine the claim. All evidence is mutually consistent.
Summary

The Nasdaq 100, a major U.S. technology-heavy stock index, fell 2% on the day and was on track for its largest daily decline since March 26, based on the source update. The move points to a broad risk-off session in equities, with technology shares under pressure, although the source did not provide a specific catalyst or constituent-level details.

Terms & Concepts
  • Nasdaq 100: A stock index tracking 100 of the largest non-financial companies listed on the Nasdaq exchange, widely seen as a benchmark for major technology and growth shares.
  • Risk-off: A market environment in which investors reduce exposure to higher-risk assets, often leading to declines in equities and other growth-sensitive markets.