Nasdaq confirms correction as Iran war uncertainty spooks investors

STORY: U.S. stocks ended sharply lower on Thursday, with the Dow losing one percent, the S&P 500 slumping a percent and three quarters, and the Nasdaq shedding more than two percent, confirming the index has been in a correction territory since its October high.:: Iranian Red Crescent SocietyInvestors grew increasingly uneasy over escalating tensions in the Middle East, after President Donald Trump said Iran must make a deal with the U.S. or face what he called a continued onslaught.A senior Iranian official, meanwhile, told Reuters a U.S. proposal to end the war was “one-sided and unfair,” adding diplomacy had not ended.The lack of clear progress pushed oil prices higher, with U.S. crude futures settling up more than four and a half percent, adding to concerns about inflation.But Rob Sluymer, a technical strategist at RBC Wealth Management, says investors should focus on market signals rather than headlines. “Remain patient. Don’t become too obsessed with what the headlines are saying and watch the technicals very closely. I think they’re going to give us the best message of when we’re getting through this problematic period that we’re in.”Technology stocks were among the biggest drags, with chipmakers and major tech names under pressure.Shares of Nvidia lost more than 4%, while Meta lost 8% and Alphabet shed more than 3%Energy shares, however, outperformed as oil prices surged. Shares of Exxon Mobil and Chevron each rose more than 1%.