The Nasdaq fell 0.74% after failing to hold above its 200-hour moving average, erasing earlier gains and shifting momentum to sellers.
The Nasdaq Composite reversed sharply from a session high of 26261.09, closing down 192 points or 0.74% at 25848.23. The decline erased a 410-point intraday swing as sellers regained control after the index fell below both its 200-hour and 100-hour moving averages.
Earlier, the index had pushed above its 200-hour moving average at 26211, signaling potential bullish momentum. However, the failure to sustain levels above key technical thresholds triggered a sell-off, leaving the Nasdaq 130 points below its 100-hour moving average at 25967.07.
The S&P 500 remained resilient but struggled near its 200-hour moving average at 7471.61, with buyers defending support to maintain a near-term bullish bias.