{"id":21363,"date":"2023-06-27T08:45:55","date_gmt":"2023-06-27T08:45:55","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=21363"},"modified":"2023-06-27T08:45:55","modified_gmt":"2023-06-27T08:45:55","slug":"us-markets-see-lower-close-in-quiet-trading-big-tech-pullback-impacts-nasdaq","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/US\/us-markets-see-lower-close-in-quiet-trading-big-tech-pullback-impacts-nasdaq\/","title":{"rendered":"US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq"},"content":{"rendered":"<h1>US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq<\/h1>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.xtrememarkets.com\/US\/indices\/\"><strong>US indices<\/strong><\/a> showed varied performance in a subdued trading session. The Nasdaq index experienced a decline of over 1% as Big Tech companies retreated, making it the poorest-performing index of the day. Tesla shares took a significant hit, falling by 6% following a downgrade from Goldman Sachs. Other major tech players, including Meta, Amazon, and Microsoft, also saw declines ranging from 2% to 3%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Contrarily, the Russell 2000 index ended in positive territory, benefitting from a rebound in regional banking stocks. The Nasdaq 100\/Russell 2000 ratio faced strong resistance at 8.2, historically signaling potential overvaluation of the tech sector compared to the broader market.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">FX Market Update: Stable US Dollar in Calm Session<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The US Dollar (USD) maintained stability during a calm trading session with limited news flow. The US Dollar Index traded within a narrow range, reaching a low of 102.610 and a high of 102.830. Traders awaited central bank speakers and upcoming US data releases, anticipating potential market volatility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Among G10 currencies, the New Zealand Dollar (NZD) outperformed its counterparts, while the Australian Dollar (AUD) remained relatively steady against the USD. Positive discussions between New Zealand and China regarding participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) contributed to the NZD&#8217;s strength. As a result, the NZD\/USD pair reached a high of 0.6177, causing the AUD\/NZD pair to decline and approach the 1.08 level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Safe-haven currencies, such as the Swiss Franc (CHF) and the Japanese Yen (JPY), gained some ground against the USD. The decline of USD\/JPY paused around the 145 level as comments from Japanese officials expressed concerns about one-sided trading of the Yen, potentially leading to foreign exchange intervention by the Bank of Japan.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Euro (EUR) remained relatively stable, with EUR\/USD trading within a range of 1.0888-1.0920. A bleak German Ifo survey briefly pushed EUR\/USD below the psychological level of 1.0900, but a late-session rally allowed the pair to reclaim that level, which now acts as a fragile support and a crucial focus in the short term.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Gold Struggles to Re-enter Recent Range<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Gold (XAUUSD) attempted to re-enter its recent range by testing the lower band around 1933. However, it faced significant resistance and settled below the range, indicating a shift from support to resistance at that level.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In summary, <a href=\"https:\/\/www.xtrememarkets.com\/US\/\"><strong>US markets<\/strong><\/a> concluded the trading session with lower results in quiet trading, as a retreat in Big Tech stocks impacted the Nasdaq. The US Dollar maintained stability, with the NZD exhibiting strong performance among G10 currencies. Gold encountered challenges in re-establishing its previous range. As traders eagerly anticipate forthcoming data releases and central bank speakers, market volatility may increase in the coming sessions.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts Nasdaq US indices showed varied performance in a subdued trading session. The Nasdaq index experienced a decline of over 1% as Big Tech companies retreated, making it the poorest-performing index of the day. Tesla shares took a significant hit, falling by 6% following<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/US\/us-markets-see-lower-close-in-quiet-trading-big-tech-pullback-impacts-nasdaq\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":21364,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[265,267,182,173,273,278,42,162,242,450,26,355,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>US Markets See Lower Close in Quiet Trading; Big Tech Pullback Impacts<\/title>\r\n<meta name=\"description\" content=\"The US Dollar (USD) maintained stability during a calm trading session with limited news flow.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/US\/us-markets-see-lower-close-in-quiet-trading-big-tech-pullback-impacts-nasdaq\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"US Markets See Lower Close in Quiet Trading; 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