Stock Market Enters Correction Territory as Iran War Pressures Tech Sector
β’ The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn. β’ Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war. β’ The S&P 500 has suffered five consecutive weeks of lossesβits longest losing streak in nearly four yearsβand is now 8.7% below its record set in early 2026.
businessinsider.com