US stock markets experienced significant volatility this week, with the Nasdaq Composite officially entering “correction” territory on Thursday, falling 2.38% (521.74 points) to close at 21,408.08. The tech-heavy index is now 10% below its recent all-time high.

The Dow Jones Industrial Average fell 1.01% (469.38 points) to 45,960.11, while the broader S&P 500 declined 1.74% to 6,477.16, marking its worst trading day since January. Technology stocks led the decline, with major companies posting substantial losses.

Nvidia dropped 4.16%, AMD fell 7.49%, Meta Platforms declined 7.92%, Alphabet lost 3.06%, Microsoft was down 1.37%, and Tesla decreased 3.59%. The selloff was largely attributed to escalating fears regarding the US-Iran conflict and sharp spikes in energy prices.

Brent crude futures rose to settle at $108.01 per barrel, intensifying stagflation concerns among investors. However, Friday showed signs of recovery, with S&P 500 futures up 0.1% following President Trump’s extension of the pause on potential strikes against Iran’s energy infrastructure.

Goldman Sachs suggests that Bitcoin may have found a bottom near $70,000 following a 45% drop from its peak, noting improved liquidity and reduced selling pressure in the cryptocurrency markets.