Is Nasdaq in trouble? Tech giants are under pressure across the board—is the U.S. stock bull market at a crossroads?

Nasdaq has always been the key barometer watched by tech investors. When tech giants perform strongly, they can often lift the entire market; but when tech stocks come under pressure across the board, the market can also be affected by a chain reaction.
Why are tech stocks especially prone to sharp volatility?
One reason is valuation. The share prices of many tech companies have already priced in growth expectations for the coming years. Once investors begin to question future profits, valuations may be reassessed.
Second is interest rates. Rates staying high means higher funding costs and can also affect the valuations of growth companies.
Third is the concentration of capital. If the market relies too heavily on a handful of large tech companies to drive gains, any pullback in those companies can put significant pressure on the index.
However, a Nasdaq decline does not mean the tech revolution is over, nor does it mean the U.S. stock market is inevitably entering a bear market.
What is truly worth watching is whether the pullback spreads from a few leaders to the entire market.
Tech stocks were once the superheroes of the U.S. stock market, but now they have become a stress test for the market. Whether the bull market can continue depends on genuine earnings strength!$AMD

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