S&P 500 Falls Below 7,300, Erases $3 Trillion Since June High

The S&P 500 suffered another sharp decline, dropping nearly 100 points and breaching the 7,300 mark. The sell-off has erased roughly $3 trillion in market capitalization since the index's June 2 high.

Broad-based losses across sectors drove the move lower. The breakdown below 7,300 signals mounting bearish momentum, following weeks of pressure from rising interest rate expectations and geopolitical uncertainties.

Traders are now watching for potential support levels near 7,200 as the index continues its correction from the June peak. The $3 trillion in evaporated market cap underscores the depth of the recent downturn.