Wild Week of Trading Leaves Pockmarks Across US Equity Landscape

Precious metals memed out, Bitcoin flamed out and the labor market looks like it’s petering out. None of it started in the equities market, but together it was enough — along with a reckoning for software firms — to shake the foundation of an AI-driven bull run.

Friday’s rally pushed the S&P 500 back to breakeven for the week. Still, such rallies in the aftermath of broad-based selling tend to occur in times of prolonged stress. And a closer look at the equity landscape shows cracks still exist, prompting investors to pay up for protection against further downside.