Today on Wall Street was a risk-avoidance day. I saw all three major indices close in the red zone — S&P 500 fell by 0.43%, Nasdaq dropped by 0.92%, and the Dow Jones lost 1.05%. Trading volume was above average, indicating strong selling. Interestingly, all eleven sectors of the index closed lower, with technology and industrials suffering the most. Defensive stocks held up better. What's happening? Investors digested inflation data and recalculated expectations for the Fed's interest rates. Treasury yields rose, making bonds more attractive than stocks. Plus, geopolitical tensions added uncertainty. Overall, a classic rotation into safety. The VIX index noticeably increased — fear is present. But looking at history: such pullbacks within an upward trend are normal for the New York index. The average correction within a year is usually around 14%. The question is whether this is a one-time correction or the start of something more serious. For now, it seems like rebalancing rather than a reversal. We’ll keep an eye on economic data and quarterly reports.