Another Friday-Like Reversal? Markets Broaden as Volatility Persists

Markets experienced a sharp reversal similar to Friday's action, with tech stocks declining after initial gains while broader market sectors recovered. The VIX surged toward 20 as memory and semiconductor shares tumbled. Crude oil fell over 3% on hopes of an Iran deal within 2-3 days. The concentration of returns in the top 20% of tech stocks versus the bottom 20% continues to drive volatility, with the Magnificent 7 turning negative by day's end.