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Nasdaq 100 Enters Correction Amid Iran War and Tech Sell-off
The Nasdaq 100 dropped over 10% from its all-time high as AI concerns, a memory stock sell-off and renewed conflict tied to Iran, which lifted oil above $110 a barrel, weighed on US tech shares.
Mar 27th 2026 ยท United States
Insights
- Nasdaq 100 has fallen more than 10% from its October peak, meeting the standard definition of a market correction.
- The index traded near 23,291 on Friday, its lowest level in about five months.
- Losses were driven by AI and broader tech weakness, including a sell-off in memory stocks.
- Hostilities involving Iran pushed Brent crude above $110 a barrel, intensifying inflation and growth worries for investors.
- The Nasdaq 100 is approaching a potential Death Cross as its 50-day moving average nears the 200-day moving average, which could signal further downside.
Sources
- Nasdaq Composite confirms correction as war worries weigh www.reuters.com
- Iran Steel Plant Hit, Nasdaq in Correction, Sentiment Dips, More www.bloomberg.com
- The Nasdaq 100 is Officially in Correction Territory as the Iran War Further Derails the Tech-led Bull Market finance.yahoo.com
- US market selloff continues as Iran war sends consumer sentiment plummeting www.theguardian.com
- Dow drops more than 700 points as Iran war uncertainty continues www.cbsnews.com