Nasdaq sank into a correction movement

The technology-focused Nasdaq stock index was down more than two percent on Friday. The index is now more than ten percent below its previous peak reading, which means a so-called correction movement.

Of the major indexes, shortly before the stock exchanges closed, the S&P 500 was down 1.8 percent, the Dow Jones was down 1.2 percent, and the Nasdaq was down 2.7 percent.

Share prices are weighed down by the rise in oil prices due to the crisis in the Middle East. The decline in technology stocks is also strengthened by market expectations that the central bank Fed might even raise its key interest rate this year instead of the expected declines.

The price of oil rose after the news agency Bloomberg told That Iran is unwilling to negotiate on the opening of the Strait of Hormuz. The Wall Street Journal also added to the fears of a prolongation of the war newsaccording to which the United States is sending more Marines to the Middle East.