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The first sharp pullback for U.S. stocks in half a year is leaving investors wondering whether to buy the dip or hold out for more declines.
Following several turbulent weeks, theĀ S&P 500Ā is down more than 5% from its March 28 closing high, its biggest retreat since October. Though they have been rare in recent months, such drops are not uncommon: The S&P 500 has experienced an average of three pullbacks of 5% or more every year since 1929, a Bank of America analysis showed.
Many market participants believe the factors that drove the S&P 500 to a 10% gain in the first quarter - including resilient economic growth and excitement over artificial intelligence - remain in place and will support stocks over the long term.
For the last week, however, sellers have had the upper hand. The S&P 500 fell for its sixth straight session on Friday, the longest such streak since October 2022.
