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Nasdaq 100 falls 1.8% in 40 minutes, nearing correction territory

Nasdaq 100 falls 1.8% in 40 minutes, nearing correction territory

The index erased earlier gains and slid to its lowest level of the session, leaving it about 3% short of a correction, the source said.

Fact Check
The claim is a near-verbatim restatement of The Kobeissi Letter's June 10, 2026 X post, which says the Nasdaq 100 erased gains and fell -1.8% in 40 minutes to its session low, leaving it about 3% from correction. The Trading Economics market summary independently confirms a tech-led US stock selloff on the same day, supporting the plausibility of the intraday move. Timestamps align with the collection time.
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Summary

The Nasdaq 100 reversed course and dropped 1.8% in 40 minutes, wiping out earlier gains and hitting its lowest level of the session. The move left the tech-heavy index roughly 3% away from correction territory, a market threshold typically defined as a decline of 10% from a recent peak. The sharp intraday swing points to a rapid deterioration in risk appetite.

Terms & Concepts
  • Nasdaq 100: An index of 100 large non-financial companies listed on Nasdaq.
  • correction territory: A market decline of 10% from a recent high.