BUZZ-US stocks weekly: Pessimism reigns

** S&P 500 .SPX stretches losing streak to four weeks, stumbles 1.9% as Middle East turmoil casts a pall .N

** Dow .DJI and Nasdaq Composite .IXIC both sag 2.1%

** Small-cap Russell 2000 .RUT enters correction territory, down 10.31% from its Jan 22 record close

** S&P 500 takes out 200-DMA to the downside, but next support zone, spring equinox a focus

** This coming as leveraged ETF flows signal tug-of-war between Nasdaq bulls and bears

** Then post-Fed rout sends Dow below key long-term moving average; 45,000 support zone eyed

** From complacency to fear: Equity Put/Call ratio swing has traders on alert

** U.S. 10-Year Treasury yield US10YT=RR ascends to 4.38% area, hits highest since Aug 2025. Yields vault as raging war in Iran lifts oil, inflation outlook US/

** Nearly every sector in the dumps: Utilities, Materials and Consumer Staples biggest cynics, while just Financials and Energy hopeful

** Materials .SPLRCM slide 4.5%. Gold miners like Newmont NEM.N fall as bullion prices sink on firm dollar, hawkish Fed. Then extend their slump after report US sending more troops to Middle East

** Consumer Staples .SPLRCS dive 4.5%. General Mills GIS.N falls after it reaffirms annual forecasts as muted demand persists

McCormick MKC.N down as co in talks to acquire Unilever's ULVR.L food business

** Consumer Discretionary .SPLRCD loses 2.7%. But travel-related stocks including Expedia EXPE.O, Airbnb ABNB.O and cruise operators jump as US airlines signal strong spring demand

** Tech .SPLRCT down 1.9%. Super Micro SMCI.O tumbles after DOJ charges three people tied to AI server maker in $2.5 bln China chip smuggling case. SMCI plunges 33% on the week

Nvidia NVDA.O briefly jumps; CEO Jensen Huang says sees $1 trln AI chip rev opportunity through 2027 at annual GTC developer conference

Micron MU.O rises on Mon as it plans Taiwan chip facility expansion, then slips on Thurs as hefty spending plan eclipses strong AI-fueled earnings

Semiconductor index .SOX ekes out 0.3% gain

** Industrials .SPLRCI slip 1.8%. However, Delta Air Lines DAL.N gains after raising Q1 rev expectations saying consumer and corporate demand accelerated into March, along with peers

FedEx FDX.N rises after upbeat profit forecast, steady shipping demand signal

** Financials .SPSY edge up 0.4%. Big banks tick lower tracking broader market decline early Thurs, but then recover

For the week, S&P 500 banks index .SPXBK up ~2%, KBW regional banking index .KRX dips 0.2%

** Energy .SPNY leaps 2.8%. Group rises after renewed Iranian attacks on UAE, and gains as oil surges above $119/barrel

** Meanwhile, fear gauges are flashing extremes and history says that's bullish - Carson Group, and AAII bears hit highest since May of last year

** SPX performance YTD:

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(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com))