NASDAQ Faces Downside Risk Amid Tariff and Shutdown UncertaintyUS Nas 100OANDA:NAS100USDSroshMayiUSNAS100 – Technical Outlook Aligned with Fundamentals The Nasdaq 100 fell sharply on Friday, losing nearly 1,200 points within six hours as it retreated from its all-time high. The drop came amid renewed U.S.–China tariff tensions and growing uncertainty from the ongoing U.S. government shutdown, which has delayed key economic data releases and weighed on sentiment ahead of third-quarter earnings season. Technically, the index is showing clear bearish pressure, and sellers will likely maintain control while the price remains below 23,930. A short-term corrective rebound toward 24,160 – 24,350 is possible before renewed downside momentum. If the price closes a 1H or 4H candle below 23,930, it would confirm a continuation of the bearish trend, opening the way toward 23,700 → 23,500 → 23,350. Conversely, as long as the index trades above 23,930, limited corrections may occur, but overall bias remains weak under current macro headwinds. Pivot Line: 23,930 Support Levels: 23,700 / 23,500 / 23,350 Resistance Levels: 24,160 / 24,340 / 24,480 Summary: Fundamental headwinds — from tariff threats to the shutdown’s data vacuum — are fueling pressure on tech stocks. Technically, bias stays bearish below 23,930, with a potential correction toward 24,350 before continuation to the downside.