The Nasdaq Composite and Dow Jones Industrial Average have both officially entered correction territory (a 10% drop from a recent peak) this week. The S&P 500 has not closed in correction territory, but is close.
The CBOE VIX is elevated above 30, reflecting sustained risk-off sentiment.
Current S&P 500 Standings:
- Closed down 0.4% at 6,343.72.
- It is currently 9.1% below its all-time high of 6,978.60 (January 27, 2026).
- The index needs to close at or below 6,280.74 to officially enter a correction (10% drop).
Market Summary:
- S&P 500: 6,343.72, -0.4% daily change, -9.1% from peak (Near-Correction).
- Nasdaq: 20,794.64, -0.7% daily change, In Correction (-10.5% YTD).
- Dow Jones: 45,216.14, +0.1% daily change, In Correction (~10% from peak).
Driving Factors:
- Escalating tensions from the fifth week of the war in Iran.
- Brent crude increasing to $114/barrel.
- Fears of "stagflation" (rising inflation and slowing growth).
- Today's decline was led by tech and chip stocks (Nvidia, Micron).
- Investors rotated into defensive blue chips and energy stocks (Exxon Mobil).
