BUSINESS

Nasdaq Enters Correction

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The Nasdaq 100 fell into a technical correction, dropping 11% from its record peak following a sharp selloff in semiconductor and artificial intelligence-related stocks. The downturn coincided with the U.S. Federal Reserve's decision to keep benchmark interest rates unchanged at the 3.50% to 3.75% range. Three of the Federal Reserve's 12 voting officials dissented in favor of an immediate rate increase. Following the policy announcement, the 30-year Treasury yield jumped more than 10 basis points to reach its highest level since 2007. Federal Reserve Chair Kevin Warsh stated that the decision to hold rates steady was not a sign of central bank inertia and that markets must navigate economic signals independently. In extended trading, Meta Platforms fell over 7% following a disappointing annual revenue forecast, while Microsoft shares climbed nearly 9% after reporting accelerated cloud-computing growth. American crude traded near $84.60 per barrel amid ongoing military conflict in the Middle East.

Prepared by Christopher Adams and reviewed by editorial team.

Timeline of Events

On July 28, 2026, tech shares experienced sharp declines across major exchanges.
On July 29, 2026, the Federal Reserve maintained benchmark interest rates unchanged.
On July 29, 2026, three voting officials dissented favoring a rate increase.
On July 30, 2026, the Nasdaq 100 entered technical correction territory.
On July 30, 2026, the 30-year Treasury yield reached highest levels since 2007.
On July 30, 2026, Meta Platforms reported disappointing annual revenue forecasts in trading.
On July 30, 2026, Microsoft shares climbed following accelerated cloud computing growth reports.
On July 30, 2026, crude oil traded near elevated geopolitical supply conflict levels.
On July 30, 2026, market participants reevaluated artificial intelligence sector valuations broadly.
On July 30, 2026, analysts debated impending central bank monetary policy shifts.
Markets may experience heightened volatility ahead of upcoming inflation employment reports.
Federal Reserve officials might alter interest rate trajectories during upcoming meetings.
Technology sector valuations could stabilize following recent earnings announcement reactions.

News Intelligence

Tech selloff erodes investor portfolios, tightening financial conditions nationwide.
Persistent high borrowing costs could suppress corporate expansion and hiring.
Technology investors, growth-focused funds, and retail retirement accounts nationwide.
Prioritize Federal Reserve statements, corporate earnings, and major economic data.