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This week, the U.S. stock market can be said to have undergone a significant washout, falling nearly 300 points for three consecutive days. What truly dragged the market down was the Nasdaq. The S&P and Russell have already climbed back above their 20-day moving averages and are even hitting new highs, but the Nasdaq is clearly still underwater. This indicates that this sell-off wasn't targeting the broader market, but rather tech stocks, high valuations, and the most liquid assets. This wave of decline wasn't a loss of emotional control; it's more like the market is repricing one thing: what the new Fed Chair Walsh truly means. After Trump formally nominated him, Wall Street actually started taking it seriously...