All three major U.S. stock indexes closed down more than 5 per cent, with the Nasdaq entering a technical bear market

The three major US stock indices closed sharply lower, with the S&P 500 falling 5.97%, its biggest one-day drop since March 2020; it closed down 9.1% for the week, its biggest one-week drop since March 2020. The Nasdaq fell 5.82%, down more than 20% from its all-time high close, confirming it is in technical bear market territory. The Dow fell 5.50 per cent, closing more than 10 per cent below its all-time high close, confirming entry into correction territory. All three major U.S. indices posted their biggest two-day losses since March 2020 as well as their biggest weekly percentage losses since March 2020. In terms of top stocks, Tesla closed down more than 10% today, Boeing fell more than 9%, Nvidia and Apple fell more than 7%, Nifty and Oracle fell more than 6%, Amazon fell more than 4%, and Microsoft and Google fell more than 3%.