Why did the Nasdaq 100 drop 2% today?

Mega-cap tech selling weighed on the index as investors questioned growth premiums and near-term earnings confidence. Sentiment has cooled, and breadth lagged leaders. The close below the 25,187 pivot added pressure, keeping focus on support at 24,923 and the 50-day near 25,415.

What are the key support levels to watch now?

24,923 is the first key support, with the Bollinger lower band near 24,840 reinforcing that zone. Resistance sits at the 25,187 pivot and the 50-day near 25,415. A daily close back above the 50-day would improve the setup and reduce downside risk.

How should Indian investors respond to this tech selloff?

Stick to plan-based allocations. SIPs can benefit from lower prices, while lump-sum investors may pace entries. Keep position sizes modest and use clear risk limits. Monitor rupee moves, U.S. yields, and mega-cap earnings guidance since these factors influence tech multiples and feeder fund NAVs.

Is the trend now decisively bearish for the Nasdaq 100?

Not decisively. ADX near 14 signals no strong trend, while RSI around 58 is neutral. The bias is bearish while price stays below 25,187 and the 50-day near 25,415. A sustained reclaim of those levels would soften the downside case and stabilize momentum.

Global Market Insights

^NDX Today, January 21: Nasdaq 100 Sinks 2% as Tech Selloff Deepens

ByHuzaifa Zahoor January 21, 2026January 21, 2026

Nasdaq 100 today slid 2.12% to 24,987 as mega-cap tech selling deepened. The index, tracked by ^NDX, closed below the 25,187 pivot, reinforcing a bearish bias and wider intraday swings. For investors in India using Nasdaq 100 feeder funds or global ETFs, this pullback matters for rupee portfolios. We break down what drove the drop, the key support levels to watch, and practical steps to manage risk while staying aligned with long-term goals.