The major stock indices continue their multi-month pattern of lower lows and lower highs, with the S&P 500 (SPX) and the Nasdaq 100 (QQQ) getting oh-so-close to testing their key 200-day averages. The SPX is only nine points above the average, while the QQQ is 3.5 points above. If there is a positive, the longer-term average is still rising as all these indices remain above their 50-week average. Crude oil was once again the culprit for the stock selloff. As we said in recent comments, sentiment has unraveled quickly despite the very minor declines in the indices so far.

Source: Wall Street Journal March 19, 2026 12:53 UTC