Nasdaq 100 sits ~7% off last week's record; ~3.2% more makes it a correction, about 1.3 more Fridays like this one
Tech stocks lost over $1 trillion Friday as Brent crude hit $109.86, its highest close since May. The Nasdaq 100 fell 2.5% and sits about 7% below the record it set last week.
A correction is 10% off the high, so it's only ~3.2% away (0.90 / 0.93). About 1.3 more Fridays like this one, with Meta reporting Wednesday.
https://www.nbcnews.com/business/energy/oil-prices-hormuz-iran-ukraine-rcna603919
Sources: Bloomberg via Moneycontrol: Nasdaq 100 worst week since April 2025; chip index 8th straight loss; Meta reports next Wedn · @KobeissiLetter: Nasdaq 100 closes the week down 5.5%, largest weekly decline since April 2025, down 7% from its high 10
Not financial advice. For informational and educational purposes only.
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