After a week that reminded investors what a real pullback feels like, US equity markets are clawing back some ground. The S&P 500 is holding roughly flat, while the Nasdaq is off about 0.3%, which counts as a quiet day given what just happened.
The prior week saw the Nasdaq shed roughly 4.6% and the S&P 500 drop around 2%.
What actually happened this week
The recovery story started taking shape on June 29, when the S&P 500 climbed 1.2%, closing at 7,440.43. The Nasdaq did even better, gaining 2.1% to finish at 25,820.14.
The catalyst was largely a revival in technology and AI-linked equities, sectors that had been at the center of the prior week’s selling.
