By Johann M Cherian and Pranav Kashyap
March 10, 2025 – 8:43 AM PDT
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(Reuters) – The tech-heavy Nasdaq led a selloff among Wall Street’s main indexes on Monday, falling over 3% to a near six-month low, on fears that a tit-for-tat tariff war could spark an economic slowdown.
The Nasdaq (.IXIC) has fallen more than 10% from its December high, and confirmed a correction on Thursday.
The S&P 500 is on track to close below its 200-day moving average for the first time since November 2023. Analysts view this as a crucial support level, with a break potentially signaling a larger selloff ahead.
The CBOE Volatility index (.VIX), also known as Wall Street’s fear gauge, jumped more than 3 points to 26, highest since December 18.
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