Nasdaq enters correction zone
The US stock markets experienced a sharp decline as the Nasdaq 100 entered correction territory, falling more than 11% from its peak in June. The index dropped 1.8% to close at its lowest level since May, marking five consecutive sessions of losses. Additionally, the S&P 500 declined by 1.5%, reflecting ongoing pressure on the technology sector and major stocks. This came amid the Federal Reserve's decision to keep interest rates unchanged, combined with rising geopolitical tensions and a more than 7% surge in oil prices after Trump’s threats against Iran, which heightened inflation concerns. Despite some investors predicting a rate hike, the continued expectations of further monetary tightening keep markets in a cautious state of anticipation, with valuations dropping by billions of dollars.
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