Nasdaq futures trade near 29,300 after sharp decline
Nasdaq futures are trading near 29,300 after a sharp decline from roughly 29,870 to around 29,155 in only a few hours.
The decline is happening as investors are already feeling anxious about slightly higher inflation numbers and a global pullback in popular technology and AI stocks.
A massive structural event called the Russell Index Reconstitution is also occurring, which will create an unusual surge in trading volume and random price swings, especially in smaller company stocks.