Nasdaq Climbs Record Highs Then Retreats Amid Trade and Tech News
The Nasdaq Composite Index surged to new highs in early October but slid by week’s end amid tariff fears and shifting investor sentiment. The tech-heavy index finished October 1 at 22,660, up about 0.3% on the day, as healthy corporate earnings and big gains in defense-related biotech names lifted the marketnasdaq.com. By October 2, the Nasdaq added another 0.4% – closing at a fresh record high – powered by broad gains despite worries over a looming government shutdowninvestopedia.cominvestopedia.com. The rally continued into Monday, October 6, when the Nasdaq jumped 0.7% to new closing highs on the heels of blockbuster news in the chip sectorinvestopedia.com. This early-week strength proved short-lived. On Tuesday, October 7 the Nasdaq gave back 0.7% by day’s end after initially touching record intraday highsinvestopedia.com. Stocks rebounded on Wednesday with the Nasdaq climbing 1.1% to yet another all-time closing highinvestopedia.com. By Thursday the benchmark again ended higher as investors parsed Federal Reserve meeting minutes and broad-based tech stocks bounced backnasdaq.comfinviz.com. But the party ended abruptly on Friday, October 10: after hit-and-run trade tweets from President Trump, the Nasdaq plunged 3.6%, wiping out much of the week’s gainsinvestopedia.com. The index closed roughly 2.5% lower on the week overall, snapping