Nasdaq-100 plunges 2% as oil tops $100 amid Middle East tensions

U.S. tech shares sold off sharply as rising Middle East tensions pushed Brent crude back above $100 a barrel, triggering a broad risk-off move in the Nasdaq-100. The index fell 2.2% and the Nasdaq Composite dropped 2.6%, with only 24 of 100 Nasdaq-100 names in the green. The article highlights outsized declines in several megacap and growth stocks, including Tesla, Alphabet, Strategy, DoorDash, Shopify, Amazon, Meta Platforms, Qualcomm, AppLovin and Palo Alto Networks. The move reflects investor concern that higher oil prices, potential supply disruptions, and geopolitical risk could pressure growth valuations and spark broader equity weakness. Short-tech and inverse Nasdaq ETFs also appear to be benefiting from the selloff, underscoring defensive rotation across markets.