Nasdaq 100

Key insight

5.18% 10-yr yield — near 19-year high — compresses NDX multiples; hold above 30,200 (50-day MA) or bear momentum accelerates toward 29,400 Sept swing low.

30,397 retreats -0.7% as 10-yr Treasury yield hits 5.18% — multi-decade high crushing tech valuations; Fed Chair Warsh signals further tightening before year-end.

Main risk

10-yr Treasury Yield at 5.18%+

Break above 5.23% — last week's spike high — risks forced de-rating across high-multiple tech; NDX loses 200-day MA at 28,870.