Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
The U.S. stock market has officially entered a correction, with the S&P 500 plunging over 10% from its February 19 high. The Nasdaq Composite also confirmed its correction last week. This downturn has erased $5 trillion in market value, marking a stark shift from the bullish sentiment earlier in the year.
Historically, market corrections—defined as declines of at least 10%—are common. Since 1929, the S&P 500 has seen 56 corrections, with only 22 turning into bear markets. On average, corrections result in a 13.8% drop, far less than the 35.6% average decline of bear markets. The current correction has lasted 22 days, with historical data suggesting an average of 115 days.
Market uncertainty has been fueled by ongoing tariff disputes, inflation concerns, and economic slowdown fears. Investors worry that escalating trade tensions could trigger a recession, eroding confidence in the so-called "Trump put"—the expectation that policies will support the stock market.
In response, investors are flocking to safe-haven assets. The yen has surged 6.5% this year, gold hit record highs with a 13% gain, and U.S. Treasury yields have fallen as demand for bonds rises. Defensive sectors like healthcare and consumer staples have outperformed.
Investor sentiment has soured, with the AAII Sentiment Survey showing pessimism at a two-year high. Institutional investors are cutting equity exposure, while volatility has spiked, with the VIX at a seven-month high.
Tech stocks, particularly the "Magnificent Seven," have taken a hit, with Tesla down 33% since the market peaked. As risk appetite wanes, this correction may shift market leadership toward more defensive sectors.
