2024-07-29 12:30:00 ET
Summary
- The S&P 500 suffered its first “2% down day” in 356 days on July 24.
- 165 stocks actually closed higher on July 24.
- The massive market rotation into small caps sent the iShares Russell 2000 ETF up more than 12% in that period.
By Mike Larson
It finally happened. The S&P 500 (SPX) suffered its first “2% down day” in 356 days on July 24. The Magnificent Seven stocks shed about $700 billion in market capitalization, while volatility surged and bears came out of the woodwork....
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Chart Of The Week: A 2% Down Day