The Nasdaq 100, tracked by the QQQ ETF, experienced significant selling pressure, reaching a two-month low and declining by 1.4% in a single day. Concurrently, the Russell 2000 index, represented by the IWM ETF, showed resilience with a slight increase of 0.2%. This divergence in performance between major indices is notable, as the QQQ ETF also saw its daily Relative Strength Index (RSI) drop below 30 for the first time since September 30, 2022, indicating a potentially oversold condition. The broader market sentiment was cautious, with indications of money moving out of stocks, as observed in sectors like financials and healthcare alongside tech. The selling pressure on the QQQ was described as huge, reflecting the intensity of the market's downturn.