S&P 500 futures experienced a rise on Thursday night, following a session that saw the benchmark enter correction territory. Futures linked to the broad index increased by 0.69%, while Nasdaq 100 futures advanced 0.89%. Dow Jones Industrial Average futures gained 195 points, equivalent to 0.47%. A 1.4% drop on Thursday dragged the S&P 500 down 10.1% from its record close last month, officially placing it in a correction, defined as a decline of at least 10% from a recent high. The 30-stock Dow and Nasdaq Composite fell 1.3% and approximately 2%, respectively, during the session. With Thursday’s decline, the Nasdaq has fallen further into correction territory and is now down more than 10% this year. Meanwhile, the Russell 2000, focused on small caps, has dropped around 19% from its recent high, nearing a bear market, which is a drawdown of 20%. This marks another milestone in the pullback that has affected investors over the past three weeks due to President Donald Trump’s tariff policy, which has driven up uncertainty and market volatility. All three major indexes have dropped more than 4% this week. The Dow is on track for its second consecutive losing week and worst weekly decline since June 2022. This would be the fourth negative week in a row for the S&P 500 and Nasdaq. Adam Turnquist, chief technical strategist for LPL Financial, noted, “In only a few weeks, the broader market has gone from record highs to correction territory. Tariff uncertainty has captured most of the blame for the selling pressure and is exacerbating economic growth concerns.” — news from CNBC
