NASDAQ 100 Ends 0.64% Lower on Hot PCE Data and Tech Megacap Selloff

The NASDAQ 100 index closed down 189 points at 29,697 on Friday amid hotter-than-expected PCE inflation and declines across all seven major tech giants, extending its losing streak to three weeks.

The **NASDAQ 100 index** dropped 0.64% to 29,697 on Friday, March 13, 2026, pressured by a broad tech sector selloff triggered by hotter-than-expected US PCE inflation data. This move erased recent gains and marked the index's first three-week losing streak since mid-2025, with megacap tech stocks driving over 70% of the decline.

As of: March 15, 2026

Dr. Elena Voss, Senior NASDAQ 100 Strategist. Tracking US tech leadership through macro shifts and earnings cycles.

Tech Megacaps Lead Sharp Decline

The technology sector, comprising over 50% of the **NASDAQ 100**, fell 1.29%, outpacing losses in all other major sectors. All seven megacap constituents—Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta Platforms, and Tesla—closed lower, accounting for roughly 40% of the index's total weighting and the bulk of Friday's 189-point drop.

Meta Platforms plunged 3.83% following reports of delays in its new AI model rollout due to performance shortcomings. Adobe shares cratered 7.58% after announcing the departure of its CEO after 18 years at the helm. These company-specific blows amplified the sector's weakness amid broader market jitters.

Confirmed intraday action showed the **NASDAQ 100 index** dipping to a low of 29,643 before a partial recovery to the close at 29,697. Trading volume rose but stayed below recent peaks, indicating profit-taking rather than panic selling in high-valuation growth names.

For **Nasdaq 100 today**, this concentrated megacap drag highlights the index's vulnerability to its top holdings. Unlike broader indices, the NASDAQ 100's non-equal weighting means a handful of names dictate direction, making it prone to sharp swings when leaders falter.

Hot PCE Data Upends Rate Cut Expectations

US Bureau of Economic Analysis reported January PCE price index up 0.3% month-over-month, with core PCE holding at 0.4%—both above economist expectations for further cooling. As the Federal Reserve's preferred inflation gauge, this sticky reading directly dimmed hopes for aggressive 2026 rate cuts.

Markets reacted swiftly: 10-year Treasury yields climbed 8 basis points to 4.32%, while the US dollar strengthened 0.4% against the euro. Higher yields compress valuations for the **NASDAQ 100**, which trades at 32x forward earnings compared to the S&P 500's 22x. Rate-sensitive growth stocks, dominant in the index, bear the brunt as discounted cash flows shrink.

Prior to the data, traders priced in three Fed cuts for 2026; post-PCE, expectations shifted to just two. This repricing erased Thursday's bounce from softer jobs data, underscoring how inflation surprises override other positives for **US tech stocks today**.

European investors tracking **NASDAQ 100 News** face added pressure from the stronger dollar, which erodes euro-denominated returns on US tech exposure. DACH portfolios heavy in Nasdaq-100 ETFs like QQQ see amplified volatility when yields spike.

Market Breadth Confirms Underperformance

Decliners outnumbered advancers 62 to 38 in the **NASDAQ 100**, worse than the S&P 500's 55% decline ratio. The index underperformed the S&P 500 (-0.61%) and Dow Jones (-0.26%) by 30-40 basis points, while lagging the Russell 2000's +0.5% gain.

This **S&P 500 vs NASDAQ 100** divergence signals ongoing rotation from growth to value and small-caps. Investors favor sectors less exposed to rising rates, leaving tech-heavy indices like the NASDAQ 100 trailing. Semiconductors, at 20% index weight, dipped 1.1%, with Nvidia holding flat despite prior AI momentum.

Weekly, the NASDAQ 100 extended losses, contrasting February's small-cap outperformance noted in broader reports. For English-speaking investors in Europe, this widens the gap versus local benchmarks like the DAX, where cyclicals gained ground on similar macro cues.

Macro Backdrop Adds Downside Pressure

BEA also downgraded Q4 2025 GDP growth to 0.7% annualized from 1.4%, pointing to a sharper US slowdown. Consumer sentiment hit yearly lows in March, though February JOLTS data showed a modest uptick in job openings—mixed signals keeping recession risks in play without dominating sentiment.

Typically, economic softening boosts **NASDAQ 100** as a growth haven, but Friday decoupled this dynamic via persistent inflation. Higher yields negate safe-haven flows, hitting valuations directly. The index now requires a 21% rally to match its decade-average annual returns, a tall order amid macro noise.

DACH investors note ECB-Fed policy divergence: while the Fed delays cuts, ECB easing supports European cyclicals, pressuring relative **US tech stocks today** appeal. Euro weakness versus the dollar further dents cross-Atlantic portfolio gains.

AI Theme Faces Execution Hurdles

Meta's AI delays underscore growing execution risks in the narrative powering much of 2025's **NASDAQ 100** gains. Contrasting this, Nvidia's recent Q4 beat delivered 73% revenue growth, fueled by hyperscaler capex projected at 60% for 2026 versus prior 19% consensus.

Yet competition intensifies, tempering sustainability. AI/semiconductor names (Nvidia, Broadcom, AMD) hold 25% index weight; Friday's sector stasis masked rotation away from hype amid yields pressure. **NASDAQ 100 latest** positioning shifts toward waiting for proof of operating leverage over valuation expansion.

For European funds, AI read-across affects local plays like ASML or Infineon, but US megacap dominance means **Nasdaq 100 index** moves dictate global sentiment. Delays risk broader theme fatigue, capping upside.

Near-Term Catalysts and Risks

Key events loom: FOMC meeting March 19-20, CPI release Tuesday. Upside emerges if yields stabilize below 4.4%; downside if PCE confirms reacceleration, pushing cuts further out. Nasdaq-100 futures point to cautious open Monday, reflecting weekend positioning.

Risks include prolonged yield elevation squeezing multiples, or earnings misses from remaining Q4 reporters. Positives hinge on AI capex confirmation offsetting macro drag. Breadth improvement needed to sustain rally above 30,000.

European angle: Stronger dollar and US growth worries spill into eurozone exports, linking **NASDAQ 100** fate to global risk appetite. DACH investors in tech ETFs monitor for rotation signals, balancing against local value outperformance.

Disclaimer: Not investment advice. Indices, equities, and other financial instruments are volatile.