A post by @FirstSquawk on X.

US equities extended a sharp selloff, with the S&P 500 dropping 4% and the Nasdaq 100 plunging 6% in the session. The tech-heavy Nasdaq's steeper decline signals investors are aggressively shedding high-valuation growth names rather than rotating into defensives. The scale of the move matters because a 6% single-session drop in the Nasdaq 100 ranks among the index's worst days in recent years, pointing to broad risk-off positioning rather than an isolated sector wobble. Traders will watch whether the S&P 500 holds key technical support and whether volatility gauges like the VIX spike further, with upcoming inflation data and Fed commentary likely to determine if the pullback deepens or stabilizes.