The Nasdaq 100 fell 4.77%, closing at 11,068.257 points.

U.S. technology shares yesterday witnessed a continuation of the negative sentiment which has been present on the US market for a couple of days. The Nasdaq 100 fell 4.77% and is down almost 10% in three days of selling after witnessing a surge since March. Despite the decreases seen in the past days, the index is still up as much as 26.7% YTD. Meanwhile, S&P 500 ended the trading day with a decrease of 2.83%.

Meanwhile, all FAANG stocks also ended the trading day in read, with Apple leading the losers (-6.7%).

Tesla shares plunged yesterday after the company missed out on being included in the S&P 500 Index, which came as a surprise to many investors. As a result of such news Tesla shares fell as much as 20%, which is the biggest one-day loss since early February. The declines were worsened as General Motors (GM) announced a USD 2bn partnership with Nikola, for which GM received an 11% ownership in the company. Nikola is an electric truck company which has also been in the spotlight this year, as it became public through a reverse merger. The news led to Nikola increasing by 41% while GM rose 8%.

As a result of the increased volatility on the equity market, VIX is still above 30, ending the day with an increase of 2.31% (at 32.52).