MarketWatch

When no stock-market lead is safe, here’s what history shows the Nasdaq’s near-term returns look like (it’s not pretty)

Rallies are getting squashed and no lead appears to be safe for the stock market in recent trade. In fact, the Nasdaq Composite (COMP) intraday reversal on Thursday — when it was up 2.1% at its peak but ended down 1.3% — represented its largest reversal for a loss since April 7, 2020, according to Dow Jones Market Data. The disintegration of a big intraday uptrend comes after the Nasdaq Composite entered a correction — defined as a decline of at least 10% (but no more than 20%) from a recent peak — for the first time since March 8, 2021, and reflects the fragility of the market as it braces for a regime of higher interest rates and overall less-accommodative policy from the Federal Reserve.

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