Nasdaq/S&P/Nikkei drawdowns
Updated
What it is
This is a standard financial indicator measuring the percentage decline of major equity benchmarks — the S&P 500, Nasdaq Composite, and Nikkei 225 — from their most recent peak. It is used as a risk-confirmation signal to check whether a macro shock is translating into actual realized market stress.
Why it matters lately
The S&P 500 set a record close of 7,799.57 on August 13, 2026, its 27th record close of the year, before a September selloff tied to the Fed's rate hike and a Treasury yield spike pulled it down to 7,706.03 (-0.75%) by September 23, with the Nasdaq Composite falling 1.13% to 26,936.04 the same day as the 10-year yield hit its highest level since 2007. Japan's Nikkei 225 fell further, dropping 2.19% on September 11, 2026 to 63,844, well off its June 2026 record high of 68,402.13.
Asymmetric Analytics view
Inference (AA): AA likely treats a simultaneous multi-index drawdown across S&P, Nasdaq, and Nikkei as confirmation that the September 2026 Fed hike and yield spike are producing broad risk-off conditions rather than an isolated single-market move.