US500S&P 500
7,408.5
-1.24%
SUPPORT:73367249
RESISTANCE:74817568
Past
What happened
The S&P 500 dropped 1.24% to 7,408, retreating from Friday's all-time high as the bond-market shock and AI-semis selloff combined to take 92 points out of the tape in one session.
Why
Why it matters
This is a yield-driven correction, not an earnings-driven one — Q1 EPS came in fine, but a 10Y above 4.50% changes the discount rate math for the long-duration growth names that have led the rally.
Watch
What to watch
7,400 is the first support; 7,300 is the gap-fill from April. The Fed minutes Wednesday and NVDA earnings next week are the two events that resolve direction. Above 7,500 the trend is back on.
HEADLINES