Market wobble: S&P and Nasdaq slide
U.S. markets turned shaky Friday — the S&P 500 fell 1.74% in a session and the Nasdaq slid over 2.3% while oil approached $100 a barrel, pushing recession odds higher in Moody’s models. Volatility is expected to persist into next week, so short‑term trading and cash needs should be rechecked ( ).
The S&P 500 closed the session at about 6,368.85, roughly 9% below its Jan. 28 all‑time high. (wallstreetnumbers.com)) Friday’s losses extended into the fifth straight weekly decline for major U.S. indexes, the worst stretch since the Iran conflict began to roil markets. (barchart.com)) The Cboe Volatility Index jumped to about 31.05 on March 27, up roughly 13% on the day — a level that signals elevated short‑term fear. (cboe.com)) The U.S. 10‑year Treasury yield finished near 4.44% on March 27, putting additional pressure on equity valuations by raising borrowing costs. (investing.com)) Brent crude rose to about $112.57 per barrel on March 27 while U.S. WTI futures traded in the high‑$90s, keeping energy costs and inflation expectations elevated. (tradingeconomics.com)) Moody’s Analytics’ recession‑probability model was near 49% for the next 12 months, a reading matched by other forecasters that pushed some banks’ recession odds — Goldman Sachs’ model was about 30% — higher this month. (cnbc.com)) Big tech losses were a key driver: the "Magnificent Seven" group shed roughly $300 billion in market value, a hit that helped push the Nasdaq into correction territory and sent the Dow into correction as well. (uk.finance.yahoo.com))
