Markets still in correction
Major U.S. indices remain in correction territory — each down at least ~10% from recent highs — as yields and inflation worries weigh on growth names. (meyka.com) Ten‑year Treasury yields are above 4.4%, keeping pressure on tech and high‑duration stocks. (meyka.com)
The Nasdaq Composite has slid roughly 10.7% from its all‑time closing high and recently traded near the low‑21,000s, a decline analysts say confirms an official correction for the tech‑heavy index. (fool.com) The Dow and Nasdaq have each fallen into correction territory this week — reports put the Dow down about 10.5% from its peak and the Nasdaq as much as 12–13% from its October high — while the S&P 500 is closing in on the 10% threshold. (forbes.com) Benchmark Treasury yields have rallied: the 10‑year Treasury touched about 4.43% late last week and was trading around the mid‑4% range at the end of March, driven in part by a string of weak auctions that pushed the 2‑year yield toward the high‑3% area. (investing.com) Market coverage flagged three underwhelming Treasury sales this month — including a $69 billion two‑year auction with one of the lowest bid‑to‑cover ratios since mid‑2024 — a dynamic Bloomberg and Reuters say helped lift yields and widen rate‑move pricing. (bloomberg.com) Futures markets shifted noticeably: the CME‑tracked Fed‑funds futures implied probability of at least one rate increase this year crossed roughly the 50% mark late last week, according to CNBC and Bloomberg coverage of the FedWatch pricing. (cnbc.com) Energy and risk indicators reinforced the move — Brent crude returned above $100 per barrel (briefly topping the low $100s) amid Middle East tensions while the Cboe VIX volatility index spiked to about 31, signaling elevated investor stress. (cfo.economictimes.indiatimes.com) The market’s mega‑caps have been a major driver: analysts estimate the so‑called “Magnificent Seven” have lost on the order of $1.7–$2.0 trillion of combined market value from recent highs, and those seven firms still account for roughly a third of the S&P 500 by weighting. (livemint.com) The next U.S. employment print arrives April 3, 2026 — the BLS Employment Situation for March will be released at 8:30 a.m. ET, with consensus forecasts (FactSet) expecting about +57,000 nonfarm payrolls, a data point market strategists say could re‑test expectations for inflation and Fed policy. (bls.gov)
