Stock market's $5 trillion slump revives 'buy the dip' debate

U.S. stocks are on pace for their worst first-quarter performance in five years, having shed more than $5 trillion in value since the accelerated selloff began in mid-February and hoovering near the lowest levels since early autumn.

Tariff risks, which have tested the domestic economy's resilience and stoked price pressures, have proved to be the most significant downside driver. A host of Wall Street banks trimmed their forecasts for growth, inflation and corporate earnings in the past three weeks.