Good afternoon and welcome to Markets Desk.
Wall Street took a hard hit Wednesday as escalating tensions in the Middle East sent investors rushing for the exits. The S&P five hundred shed one point six two percent, the Dow fell nearly two percent, and the Nasdaq one hundred dropped close to two percent, marking what analysts are now formally calling a correction in tech.
That correction is being driven in part by sharp declines in Micron and Intel, which have pulled the broader technology sector into bearish territory after a week of mounting pressure. The selloff is no longer a pullback — it has crossed the threshold, down more than ten percent from recent highs, and the question now is whether buyers step in or sentiment continues to deteriorate.
Meanwhile, Oracle delivered a record quarter, beating analyst estimates and raising guidance, yet the stock fell anyway. That's the market telling you expectations had already run ahead of the results. When a beat and raise isn't enough to move a stock higher, it signals investors priced in perfection and got something slightly less.
And on the macro front, President Trump said Wednesday he is comfortable with inflation running at four point two percent. For incoming Fed Chair Kevin Warsh, that political cover matters — it gives the new chair room to hold rates without immediate pressure from the White House.
That's the tape. Markets Desk, signing off the floor.
