Investing
That Sudden Market Drop Was Scary for Investors But Long Overdue
It had been 17 months since the S&P 500 posted a drop of 2% or more, but advisers caution nervous investors against making rash portfolio moves.
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Even the biggest bulls probably knew, deep down, that a winning streak unseen since 2007 couldn’t last forever.
The tech-led stock rally that has turbocharged markets for the past year and a half on the promise of AI sputtered Wednesday. The Nasdaq 100 suffered its worst day since October 2022. The S&P 500, meanwhile, was dragged down by the big technology companies, plunging 2.3% to end a streak of 17 months without a drop of 2% or more. That was the best stretch since the start of the financial crisis.