Whipsaw Trading Sends Nasdaq to Steep Weekly Losses

• Iran rejected a U.S. 15-point peace plan, prolonging conflict and driving crude oil volatility with Brent topping $110
• The Nasdaq Composite slipped into correction territory by Thursday, with both the Nasdaq and S&P 500 on track for five straight weekly losses
• Elliott Investment Management took a multibillion-dollar stake in an unnamed chipmaker, triggering a surge, while analysts issued mixed signals on tech stocks like Qualcomm

Market Summary: Whipsaw Trading Sends Nasdaq to Steep Weekly Losses

Key Market Developments:

U.S. markets experienced severe volatility during the week of March 27, 2026, driven by failed U.S.-Iran peace negotiations and domestic policy actions. The Nasdaq Composite entered correction territory by Thursday, while both the Nasdaq and S&P 500 are tracking toward their fifth consecutive weekly loss. The Dow Jones Industrial Average also declined on Friday despite earlier gains.

Geopolitical Impact:

Iran rejected President Trump's 15-point peace proposal, though a temporary ceasefire through April 6 initially provided market relief. However, sustained tensions pushed Brent crude above $110 per barrel, adding pressure to equity markets. Heightened ICE enforcement at airports and Department of Homeland Security activities further rattled investor sentiment mid-week.

Notable Corporate Activity:

Elliott Investment Management drove significant gains in an unnamed chipmaker after taking a multibillion-dollar stake. BofA Global Research reinstated coverage on an AI company, while the Pentagon announced plans to utilize an AI platform for weapons targeting. Qualcomm (QCOM) faced selling pressure following a Bernstein downgrade to "market perform" due to industry headwinds.

Defense contractor Kratos Defense & Security Solutions (KTOS) emerged as a potential beneficiary, with analysts projecting possible gains up to 9.1%. However, Devon Energy (DVN) approached a historically bearish trendline despite elevated oil prices.

Technical Signals:

Multiple historic bullish indicators emerged across uranium, cryptocurrency, and satellite sectors, suggesting potential buying opportunities amid the broader market weakness.

Market Outlook:

Easter week lies ahead with limited earnings and economic data expected, though March-end reports remain on the calendar.