Markets wobble — Nasdaq slide
Nasdaq slipped 2.01% (‑443 pts) and sat a third day below its 200‑day MA at 22,248, trading 9.87% off its October high as breadth stayed weak and RSI hit 33.6 (x.com). Volatility spiked — VIX +11% to 26.78 — and the 10‑yr yield rose 13bps to 4.38%, with analysts eyeing 20,900 as key support (x.com).
The S&P 500 closed down 1.51% at 6,506.48 while the Dow Jones Industrial Average lost about 444 points to finish at 45,577.47. (google.com) Small caps worsened the slide: the Russell 2000 moved into correction territory this week, making it the first major U.S. benchmark to breach that threshold. (cnbc.com) Crude rallied on fresh Middle East disruptions, with Brent trading above $112 and WTI near $98 amid reports Iraq declared force majeure on foreign-operated fields. (riotimesonline.com) U.S. wholesale inflation accelerated: the BLS reported the Producer Price Index rose 0.7% in February and 3.4% year‑over‑year, the hottest readings in almost a year. (bls.gov) Geopolitical escalation tightened markets — the Pentagon said thousands more Marines and sailors were being dispatched toward the Middle East, a move that traders flagged as increasing supply‑shock risk to oil. (cnn.com) Market strategists pointed to the PPI surprise and higher oil as reasons the market is pricing out near‑term Fed rate cuts, pushing earnings multiples and risk sentiment lower into next week. (invezz.com)
