NDXUSD

The Nasdaq, the most sensitive index to changes in interest rates, was among the most negatively affected by Powell's "hawkish" stance. With decreasing expectations for future interest rate cuts, there were sell-offs in technology stocks. The index may target supports at 23996.80 and 23878.40 while remaining below the 24067.10 pivot. The markets can only limit this decline with economic data that comes in much worse than expectations.