At today’s close, the Nasdaq is down 10%, the S&P500 4%, from its previous peak.
Nasdaq (blue, right scale), SP500 (green, left scale).
From Bloomberg:
The tech-heavy Nasdaq 100 index fell 1.4%, sparking a correction, while shares lost 10% from their last peak in October. The S&P 500 index fell 0.5%. Both gauges failed to maintain gains from earlier in the session. Energy and information technology led declines as crude oil prices fell after reports that US President Donald Trump signaled progress toward peace talks with Iran.
The Philadelphia Stock Exchange’s Semiconductor Index fell 3.4%, adding to Friday’s 7.2% plunge. The chip stock failed to break above the 200-DMA on Monday after closing below that level on Friday for the first time since June 2025.
“Lower oil should be a tailwind for tech, but the fact that stocks can’t continue to open even with crude plunging shows how little conviction is still left even after the carnage last week,” said Dave Mazza, CEO at Roundhill Financial. …