Top Analyst Explains Why the S&P 500, Nasdaq 100, Dow Jones Are Crashing

Benzinga_recent_news06-07

Top US stock market indices like the S&P 500, Nasdaq 100, and Dow Jones suffered a harsh reversal on Thursday and Friday, erasing billions of dollars in value. The S&P 500 Index retreated by 3% from ...

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The S&P 500 Index retreated by 3% from ...</p>\n\n<a href=\"https://www.benzinga.com/markets/equities/26/06/53047989/top-analyst-explains-why-the-sp-500-nasdaq-100-dow-jones-are-crashing\">Source Link</a>\n\n</div>\n","source":"benzinga_recent_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top Analyst Explains Why the S&P 500, Nasdaq 100, Dow Jones Are Crashing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop Analyst Explains Why the S&P 500, Nasdaq 100, Dow Jones Are Crashing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-07 02:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/equities/26/06/53047989/top-analyst-explains-why-the-sp-500-nasdaq-100-dow-jones-are-crashing><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Top US stock market indices like the S&P 500, Nasdaq 100, and Dow Jones suffered a harsh reversal on Thursday and Friday, erasing billions of dollars in value. 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The S&P 500 Index retreated by 3% from its year-to-date high, while the Dow Jones and Nasdaq 100 fell by 1.35% and 6%, respectively. \nA top market analyst has given the top reasons why the stock market crashed in the final two days of the week. In an X post, The Kobeissi Letter blamed the sell-off to a combination of factors. \nHe pointed to the strong macro numbers released this week, which pushed the odds of Fed hikes upwards. A report released on Friday showed that the US nonfarm payrolls rose by 172k in May, higher than the expected 85k.\nTwo days before that, another report by ADP showed that the private sector added 122k jobs during the month. Job vacancies jumped by over 700k in April despite the Iran war. \nTherefore, with the US inflation report remaining above the 2% target for years, there are signs that the Fed will hike interest rates this year. This explains why US bond yields also jumped after the NFP report. \nHe also pointed to the upcoming $75 billion SpaceX IPO. His theory is that some investors are selling their shares to take advantage of the IPO.\nMeanwhile, technicals suggest that the US stock market was due for a correction. Data shows that the S&P 500 Index became highly overbought as the recent bull market accelerated. The Relative Strength Index (RSI) jumped to the extreme overbought level of 78. Similarly, the RSI of the Nasdaq 100 and Dow Jones moved to their extreme levels. \nS&P 500 Index chart | Source: TradingView\nIn the S&P 500 Index's case, there is a risk that it may drop further from the current $7,383 to $7,000. This is possible as the price was along the highest point in January this year. As such, moving to that level will be a break-and-retest pattern, which normally happens ahead of a reversal. \nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2641120534","isCrawlerRequest":true}