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But we saved everything 🙂.
The S&P 500 experienced another difficult session, reversing earlier gains to close down 0.39 percent after initially rising by 0.60 percent. Peter Tuchman noted that the index has now lost over $1.7 trillion in market capitalization within just five days, reflecting a 3 percent overall decline.
The sharp losses underscore recent volatility in the U.S. equity market and have prompted questions about the underlying causes of the downturn.
Last week, Peter Tuchman reported that the S&P 500 saw an $800 billion decline in market capitalization in a single session, leaving the index down 4% for the month and totaling $2.5 trillion lost since recent highs (link). In a separate note, he highlighted a $1 trillion swing in S&P 500 market cap as the index shifted from a 2.5% drop to closing down 0.9% (link). Recent sessions have added to the market's heavy losses.