Economic growth concerns trigger sell-off, S&P 500 index is likely to enter technical correction

According to BlockBeats, on March 12th, the S&P 500 index fell 1.5% during trading on Tuesday, down 10% from its high on February 19th. The closing trend will enter its first technical correction since the end of 2023, as investors become increasingly concerned about an economic downturn and sell off risky assets in favor of safe haven assets. The Nasdaq 100 index, dominated by technology stocks, fell 1.3% and entered a correction on March 7th. Adam Sarhan, founder of 50 Park Investments, said, "Our situation is that the pendulum has changed and fear has taken the upper hand." "This is largely related to the lifting of the 'Trump deal,' but also to concerns about future growth and economic recession In recent weeks, as economists have lowered their expectations for economic growth based on the possibility of a fierce trade war, stock market sentiment has rapidly deteriorated. On March 9th, US President Trump stated in an interview with Fox News that the US economy is facing a "transitional period" and refused to rule out the possibility of an economic recession. (Golden Ten)