Nasdaq Composite entered correction zone, fear index jumped 11%

Technology index Nasdaq Composite during trading on March 26 entered the correction zone, reports MarketWatch. It collapsed by 2.1% and thus lost 10% relative to its last high, recorded on October 29. The index had already traded in the correction zone on March 20, but before the close of trading that day managed to recover the fall. If the Nasdaq Composite ends today's session below 21,562.62 points, it will mean that it will close in the correction zone for the first time in a year, MarketWatch points out.

The S&P 500 broad market index fell 1.4 percent in Thursday trading, while the Dow Jones Industrial Average was down 0.8 percent.

Stocks are pressured by a sharp rise in the price of oil, CNBC notes. Brent futures rose 5.7% to trade at about $108 a barrel. North American WTI added 4.7%, jumping above $94 a barrel.

The VIX volatility index, which is called the Wall Street fear indicator, soared 11% to almost 28 points. Since the beginning of the war in the Middle East, it has not fallen below 20 points, and the level of 30 points is usually considered high and indicates a period of increased uncertainty in the market, writes Investing.com. Historically, VIX values above 30 have often been associated with corrections or downturns.

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