Feb 02 26, 13:18 GMT Facebook Print Last week saw the release of quarterly earnings from Microsoft (MSFT), Meta Platforms (META), Tesla (TSLA) and Apple (AAPL). At the opening of Monday’s session — today, 2 February — the Nasdaq 100 index (US Tech 100 mini on FXOpen) opened with a bearish gap, sliding towards the 25,100 level. Why Is the Nasdaq 100 Falling? While many of the Big Tech earnings reports were strong, the broader market reaction suggests that: → investors have become increasingly sceptical about massive capital expenditure (capex) on artificial intelligence, as seen in Microsoft’s case; → even solid results, such as those delivered by Apple, are no longer triggering rallies. It appears that market participants are placing greater emphasis on uncertainties related to: → the new Fed Chair; → the risk of another US government shutdown; → rising geopolitical tensions (with Greenland, Iran and Ukraine potentially joined by Cuba). Technical Analysis of the Nasdaq 100 Chart When analysing Nasdaq 100 price action (US Tech 100 mini on FXOpen) six days ago, we: → identified an ascending channel (shown in blue); → considered a scenario involving another false bullish breakout following the move above the 13 January high; → anticipated a modest technical correction. Since then: