It was a down week across the board for equities: S&P 500 closing at 6,632.19 (-1.60%), Nasdaq closing at 22,105.36 (-1.26%), Dow Jones closing at 46,558.47 (-1.99%), Russell 2000 closing at 2,480.05 (-1.79%). The decline was broad-based — all major indices moved lower together, a sign of broad risk-off sentiment rather than isolated sector weakness.

The 10-year Treasury yield climbed 15 bps to 4.28% — rising yields signal the bond market is pricing out rate cuts, which puts pressure on rate-sensitive growth stocks and long-duration bonds. Gold moved -0.59% to $5,061.70, a modest pullback with no strong directional signal. The dollar strengthened +1.15% (DXY: 100.43), a headwind for multinational earnings and international ETF holders. WTI crude rose +4.16% to $98.71/bbl — a meaningful move that adds upward pressure on energy costs and inflation expectations.

The economic calendar was quiet this week, with no major data surprises to shift the macro narrative.

Next week's calendar is light — a good time to review positions and rebalance rather than react to noise.

This week's selloff was broad and deep. The S&P 500 dropped 1.6%, but the story is in the width: small caps (Russell 2000 -1.79%), tech (Nasdaq -1.26%), blue chips (Dow -1.99%) all fell together — this wasn't sector rotation, it was risk-off across the board. A $10,000 index portfolio lost roughly $160. The dollar also strengthened +1.1% — a quiet headwind if you hold international ETFs, as foreign gains get partially erased when converted back to USD.

Bond yields climbed 15 bps to 4.28% over the week, making it harder to justify equity valuations — particularly in growth and small caps. Worth noting: gold fell 0.59% despite the equity selloff — a sign the dollar's strength is the dominant force, not a simple flight to safety.