S&P 500 down 0.5%, Nasdaq 100 down 0.4%

A broad, shallow pullback across major US indices suggests risk-off sentiment without a clear sector-specific catalyst. This matters for crypto and RWA markets because equity weakness often correlates with reduced appetite for speculative assets, though the modest size of the move limits immediate signal. The key is whether this drift deepens into a sustained correction or remains a technical pause; watching breadth and any follow-through in the next sessions will clarify if this is noise or a shift in positioning.