Nasdaq slips into correction

The Nasdaq‑100 sits roughly 11% below its October peak, a drop that meets the 10% threshold used to define a technical correction. (finance.yahoo.com)) Volatility and rates signaled the stress: the Cboe VIX reached 27.44 on March 26, 2026, while the 30‑year Treasury yield rose to about 4.98% on March 27, 2026. (markets.businessinsider.com)) Boards are already responding with leadership moves — Adobe’s CEO Shantanu Narayen announced his resignation in mid‑March after the stock fell as much as 8.4% intraday and about 28% year‑to‑date. (bloomberg.com)) The wave of executive change is broad: Russell Reynolds’ data, cited by Fast Company, counted 234 CEO departures among globally listed companies in 2025, reflecting elevated turnover pressure on boards. (fastcompany.com)) Worker confidence is eroding as layoffs accelerate: Glassdoor’s index shows a more than seven percentage‑point year‑over‑year drop in tech worker optimism and Challenger, Gray & Christmas tallied over 33,000 announced tech layoffs so far in 2026. (hrdive.com)) Governance responsibilities are shifting on AI and risk oversight — ISS found 31.6% of S&P 500 companies disclosed some board‑level AI oversight in 2024, with 51% of IT firms doing so and many moving responsibilities beyond traditional audit and risk committees. (insights.issgovernance.com)) Advisers urge formal structures: recent guidance from corporate law firms highlights that well‑constituted special committees reduce litigation risk and bolster credibility when boards review conflicted transactions or strategic alternatives. (debevoise.com)) Compensation committees are recalibrating pay strategies for retention and investor scrutiny — Skadden’s 2026 handbook and industry reports flag a shift toward disciplined equity refreshes, more cash‑oriented retention tools, and greater use of independent compensation consultants. (skadden.com))