S&P 500 opens down 44.37 points, Nasdaq falls 1.31%

The Nasdaq's decline is more than twice the S&P 500's on a percentage basis, a tech-led opening rather than a broad risk-off move, with the Dow's smaller drop reinforcing that the weakness is concentrated in growth names. For crypto and RWA markets, the relevant signal is sentiment spillover: when high-beta equities soften first, digital assets often trade as the same risk bucket. Whether the gap between Nasdaq and Dow performance persists through the session is the open question worth watching.