Nasdaq Enters Correction Territory as Geopolitical Tensions Weigh on Tech Stocks

The US tech-heavy Nasdaq index has officially entered correction territory, marking a significant shift in global market sentiment. The index is currently trading approximately 12.50% below its all-time high recorded in January, closing near the 20,948 level. This decline follows a peak of 24,020, with technical indicators showing the index rapidly approaching a 38% Fibonacci retracement level. Analysts attribute this sharp selling pressure primarily to escalating geopolitical tensions involving Iran, which have triggered a broader risk-off environment. As investors pivot away from high-growth tech assets, the market remains focused on potential further volatility. This correction reflects a transition from the recent bullish rally toward a more cautious stance amid global instability.