Financial Stocks Hammered: Nasdaq Financial-100 Index Plunges Nearly 5%
NEW YORK, NY – April 10th – The Nasdaq Financial-100 Index (IXF), which tracks the performance of major financial services companies listed on the Nasdaq, experienced a significant sell-off during Wednesday’s trading session.
As of 1:28 PM EDT, the index registered a value of 5,668.71. This represents a substantial decline of 286.96 points, translating to a 4.82% drop for the day.
The sharp downturn has pulled the index considerably lower than its previous closing value of 5,955.67, reflecting broad weakness across the financial sector stocks within the index.
The intraday chart shows the index trending downwards throughout the morning, hitting a low point around 12:30 PM EDT before attempting a slight rebound. Despite the minor recovery from the session lows, the index remains significantly in the red, indicating persistent selling pressure on financial names as the afternoon session unfolds.
