The post Wall Street uncharacteristically goes bearish on S&P’s ‘Other 493’ along with ‘Mag 7’ appeared on BitcoinEthereumNews.com.

Wall Street turned on almost everything Friday, as traders dumped the Magnificent Seven and a huge chunk of the rest of the market too. The clearest sign came from the Russell 2000, which fell more than 2% on the day and ended 10.9% below its all-time high. That made it the first major U.S. stock benchmark to enter correction territory in 2026. In plain terms, a correction means a drop of more than 10% but less than 20% from all-time high, even as Cryptopolitan earlier reported that small caps started the year in better shape than many expected. Earlier in 2026, the Russell 2000 was down only about 2% as hopes for easier monetary policy and a rotation away from mega-cap stocks gave smaller companies some room to run. The small-cap index is down more than 7% this month as the Iran war has sent Brent crude oil futures up more than 50%. Small-cap stocks tend to have more exposure to cyclical parts of the economy, so they get hit harder when oil jumps, and growth starts to look weaker. Wall Street clearly treated that risk as real. US and Israel’s war in Iran and surging oil prices keep dragging Wall Street Stocks swung hard through Friday’s session as the conflict involving Iran and Israel kept getting worse and oil kept climbing. Overnight, Iran and Israel exchanged more strikes. Iran also launched fresh attacks on energy sites in the Persian Gulf. The Wall Street Journal, citing U.S. officials, reported that the Pentagon was sending thousands of additional Marines to the Middle East. CBS News also reported that “heavy preparations” were being made for possible ground troop deployment to Iran, citing multiple sources. The selling got worse later in the day after Reuters reported that Iraq had declared force majeure on…

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Filed under: News - @ March 21, 2026 3:16 pm