New Delhi, March 29 -- When the going gets tough, the tough start readying their dry powder for deployment.

And yes, it's tough out there. While the Dow Jones Industrial Average has declined just 0.8% this week, the S&P 500 index has fallen 2%, while the Nasdaq Composite has slumped 3.1% and is now officially in correction territory. Not even an extension of President Donald Trump's deadline to attack Iran's power grid could help the market find support.

The market's concerns about the Iran war are reflected in the Cboe Volatility Index, or VIX, which looks set to close at its highest level since April 22, 2025. Still, at 30, it's not close enough to 40 to signal a washout, according to Rosenberg Research founder David Rosenberg. "One o...