The Nasdaq 100 Index (NDX) is attempting a rebound after a volatile session triggered by fresh global tariff announcements. On April 2, 2025, the U.S. government imposed a 10% baseline tariff on all imports, targeting China, Europe, and semiconductor-producing nations with additional levies on tech components, AI chips, and industrial machinery. In response, China retaliated with tariffs on U.S. chipmakers and cloud computing services, fueling concerns over supply chain disruptions.
As of premarket trading today, the Nasdaq 100 is hovering around 19,740, recovering from yesterday’s close at 19,581.78. Traders are watching whether the index can reclaim the 19,896.33 resistance level, which has acted as a short-term barrier.
Tech Stocks Under Pressure as Tariff Risks Mount
The tariff escalation has rattled big tech stocks, with Apple (AAPL), NVIDIA (NVDA), and Microsoft (MSFT) leading the losses. These companies are at the heart of the trade war, facing both increased costs and potential demand slowdowns in key international markets.
- Apple (-2.1%): Faces higher import duties on China-assembled components, adding margin pressure.
- NVIDIA (-3.8%): AI chip exports to China could face stricter regulations, weighing on sales.
- Microsoft (-1.6%): Cloud services impacted as China rolls out new restrictions on foreign tech providers.
The broader market has shown resilience, but traders remain cautious as further retaliatory measures from China and the European Union could emerge in the coming days.
Nasdaq 100 Technical Outlook: Key Levels to Watch
Support and Resistance Zones:
Premarket Resistance: 19,896.33 → 20,581.71
Breakout Target: 21,534.27 → 22,138.33
Support Levels: 19,164.49 → 18,432.64
Major Bearish Pivot: 17,445.24
The Nasdaq 100 found support at 19,164.49 and is attempting to reclaim 19,896.33. The RSI sits at 42.64, still in bearish territory but showing early signs of a potential recovery.
A confirmed breakout above 20,581.71 could trigger momentum toward 21,534.27, while failure to hold 19,164.49 could accelerate declines toward 18,432.64.
Market Sentiment: Cautious But Resilient
Despite the tariff-induced volatility, the market is finding stability as traders shift focus to upcoming U.S. economic data, inflation trends, and Federal Reserve policy updates. Earnings season is also approaching, and tech giants will need strong guidance to regain bullish momentum.
For now, traders should watch for high-volume moves, especially around key technical levels. The tariff situation remains fluid, and any further escalation could dictate the Nasdaq 100’s next big move.
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