In tonight’s episode of The Gentle Ledger, we drift through a softer market landscape as the major U.S. indexes step back in unison. The Dow slipped nearly 400 points to 46,912, the S&P 500 eased 1.1% to 6,720, and the tech-heavy Nasdaq fell 1.9% to 23,053 — a gentle pullback after weeks of strong momentum. We explore the day’s key narratives: tech and AI stocks losing altitude, industrials and financials finding quiet footing, and commodities rebalancing as gold steadies near $4,000 and oil slides below $60 a barrel. Overseas, Asia and Europe moved in the same contemplative rhythm, while the 10-year Treasury yield eased to 4.09% and Bitcoin hovered softly above $104,000.

A tranquil reflection on a world taking a collective breath — markets slowing, investors listening, and the hum of uncertainty settling into a gentle calm.