• 

  35%+1.1%

  Orderly Relief Bounce

  Investors treat the 4.2% Nasdaq 100 drop as a fast valuation reset rather than the start of a systemic break. Dip-buying returns in megacap technology, especially if Treasury yields stop rising and no new inflation surprise appears.

  Technology +1.4% · Telecommunications +0.7% · Consumer Cyclicals +0.4%

• 

  30%−2.4%

  Selloff Extends Lower

  The market continues to reprice stretched AI and megacap technology valuations after the $1.7 trillion wipeout. Higher real yields, crowded positioning and disappointment around Amazon and Intel earnings keep pressure on growth stocks.

  Technology −3.1% · Telecommunications −0.8% · Consumer Cyclicals −0.7%

• 

  20%−0.5%

  Rates Drive Repricing

  The next move is determined less by earnings and more by the Treasury market after recent Fed hikes pushed the 10-year yield above 5%. Investors focus on whether inflation expectations keep rising or whether growth concerns trigger a flight to Treasuries.

  Utilities −0.7% · Finance −0.5% · Technology −0.5%

• 

  15%−0.8%

  Earnings Split Market

  Investors move from buying the AI theme broadly to differentiating among companies with proven cash flow, cloud pricing power and semiconductor execution. The Nasdaq remains volatile, but dispersion rises more than broad index downside.

  Technology −1.4% · Utilities +0.6% · Consumer Non-Cyclicals +0.5%

Each figure is the modeled move of the S&P 500 if it happens. For information only. Not investment advice.