Was that it?
It feels ridiculous to ask, given that at the lows of last week, the peak-to-trough decline in the S&P 500 was just 5.2%.
It feels ridiculous to ask, given that at the lows of last week, the market was still up 21% YTD.
But it is a reasonable question, given that stocks have aggressively bounced, with S&P 500 futures currently sitting less than 2% below all-time highs.
And it feels reasonable to ask, given that so many stocks, ex the giant ones, have gotten absolutely annihilated. The chart below shows that the number of Nasdaq stocks hitting 52-week lows spiked to the highest level since 2020. You can clearly see that every bottom in the indexes coincides with a spike in new 52-week lows.*
More here – The Irrelevant Investor
PS: I feel ripped off….I want the crash that social media told me was unfolding….