Big Tech Earnings Arrive With Nasdaq 100 on Brink of Correction
- Nasdaq 100 Index has fallen 8% from a peak earlier this month
- Focus is on earnings this week from Microsoft, Apple, Amazon
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The violent rotation out of Big Tech has dragged the Nasdaq 100 Index down 8% in just over two weeks, leaving it on the cusp of a correction. Whether it can avoid that dubious milestone will likely come down to earnings from a quartet of companies worth nearly $10 trillion combined.
In a week that also brings a Federal Reserve interest-rate decision, investors will focus primarily on results from Microsoft Corp. on Tuesday, followed by Meta Platforms Inc., Apple Inc. and Amazon.com Inc. over the next two days.