S&P 500 Nears Correction Territory as Iran Deal Remains Elusive
US equities did an about-face on Monday, deepening a selloff that spurred the longest weekly losing streak since 2022 amid fears of escalation in the war after more American troops arrived in Iran.
The S&P 500 Index dropped 0.4% after wiping out a 0.9% gain from early in the session. The benchmark stock gauge closed at its lowest level since August, and now stands less than 1% away from a correction. The Nasdaq 100 Index shed 0.8% after entering one on Friday.