Risk aversion creeps into the market as Nasdaq shares fall

The Nasdaq opened higher but is now down 0.4% as some tech names weigh, including:

• NVDA -1.3%
• META -1.7%
• AMD -3.6%
• TSLA -3.7%

Nvidia hit a record high yesterday but was unable to press further and is now below Wednesday’s close. It if closes below $184 that could be trouble as it would carve out a minor three-candle reversal.

In the broader market, Las Vegas names are struggling today along with Nike, which rallied earlier in the week. On the upside, healthcare stocks continue to be strong, including pharma.

The slump in stock markets has spilled over into FX somewhat with the US dollar now seeing some bids on risk aversion. That’s lifted it around 10 pips across the board. This sets up for an interesting finish to the day.