Nasdaq 100 Falls Below 30,000 Amid Rising Oil Prices and Bond Yields

The Nasdaq 100 has dropped below 30,000 and 29,850, with 29,180 and 28,190 emerging as key support levels. The index has fallen after three consecutive daily declines due to rising oil prices and bond yields, which are pushing investors to take profits.

US equities are facing growing pressure from persistent Middle East tensions, elevated energy prices, and rising long-term yields. If the macro pressure continues, it could turn the current pullback into a deeper correction.

The combination of higher energy costs and higher long-term borrowing costs is becoming increasingly uncomfortable for equities. The overcrowded AI trade is losing momentum as yields press higher.