Netflix Raises Prices (Again), Nasdaq Falls Into Correction

This episode of The Rundown covers Thursday's sharp market decline, with the Nasdaq entering correction territory amid escalating tensions from the Iran war and rising oil prices. It also details Netflix's latest U.S. price hikes, potential airline consolidation, and updates on Unity, Bitcoin, and Apple's App Store earnings from AI apps.

Nasdaq Correction Amid Iran War Fears

The S&P 500 fell 1.7% and the Nasdaq dropped 2.4% on Thursday, marking the worst day for stocks since the Iran conflict began about a month ago. Tech stocks led losses, with Nvidia and Google down 4% each and Meta off 8% following courtroom setbacks. The Nasdaq is now down 10% from its late-October record highs, with no new highs in over 100 days, officially entering correction territory.

Geopolitical risks dominate sentiment. Despite President Trump's reports of ongoing negotiations, a 10-day extension on pausing strikes against Iranian energy infrastructure (now due April 6), and Iran allowing 10 oil tankers through the Strait of Hormuz, markets reacted negatively. Brent crude surged over 5% to above $110 per barrel, and the 10-year Treasury yield hit its highest since July, signaling growing panic over a prolonged conflict.