The Nasdaq-100 Just Did Something for Only the 10th Time in 23 Years -- and It Has a 91% Success Rate of Forecasting Future Stock Moves
Rare events tend to lead to outsize returns for the stock market.
When examined with a wide lens, stocks have outdone all other asset classes in the return column. But this doesn't mean the stock market doesn't hit speed bumps or endure rough patches.
Following a period of seemingly unbridled optimism that began in October 2022, Wall Street has hit one of these rough patches over the last two months.
The ageless Dow Jones Industrial Average (DJINDICES: ^DJI), benchmark S&P 500 (SNPINDEX: ^GSPC), and growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC) have all declined by a double-digit percentage from their respective record-closing highs. Both the Dow Jones and S&P 500 are firmly in correction territory, while the Nasdaq Composite is navigating its way through its first bear market since 2022.