Nasdaq 100 Pares Early 1.1% Drop, Turns Roughly Flat

The intraday recovery matters more than the closing levels: dip-buyers stepped in and pulled the tech-heavy index back from a sharp early drop, while the Dow's stronger gain suggests rotation rather than broad risk-off. Semiconductors lagging even after paring losses hints that the chip complex remains the soft spot to watch. Whether the Nasdaq 100 can hold these recovered levels into the next session, and whether semis keep underperforming the broader tape, is the open question.