Tech Stocks Brace for a Bleak Day

Tech stocks are expected to have a difficult day ahead as poor earnings releases from Meta and Alphabet have negatively impacted overall equities sentiment. The Nasdaq has already broken below a key trendline support and is likely to fall further below its 200-day moving average, which could have negative implications for the broader market. As risk sentiment worsens and yields rise, there is speculation that cash, specifically the dollar, may regain its status as the preferred asset.