Nasdaq Correction
As of today’s close, Nasdaq down 10%, S&P500 4%, from prior peak. Nasdaq (blue, right scale), SP500 (green, left scale). From Bloomberg: The tech-heavy Nasdaq 100 Index ended down 1.4%, pushing it into a correction, when shares lose 10% from their last peak in October. The S&P 500 Index fell by 0.5%. Both gauges failed […]
On October 15, the Nasdaq 100 Index closed down 1.4%, marking the beginning of a correction as it fell 10% from its peak in October. The S&P 500 Index also experienced a decline of 0.5%, failing to sustain earlier gains. The tech-heavy Nasdaq 100 Index lost ground due to declines in energy and information technology sectors. Energy stocks suffered as crude prices dropped following President Donald Trump's hints of progress towards peace talks with Iran.
The Philadelphia Stock Exchange's Semiconductor Index decreased by 3.4%, contributing to a 7.2% plunge on Friday. The semiconductor index had already slipped below its 200-day moving average on Friday for the first time since June 2025. Dave Mazza, CEO of Roundhill Financial, noted that while lower oil prices are typically a positive for technology stocks, the inability to maintain gains despite falling crude prices indicates a lack of confidence in the market.
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