What happened?
Last Friday, U.S. equities suffered their sharpest drop in months after fears of a renewed trade war flared up. U.S. President Trump announced 100% tariffs on Chinese imports, sparking worries over supply chains and company earnings. The S&P 500 fell 2.7%, the worst single-day drop since April’s Liberation Day. The Nasdaq Composite declined 3.6%, while Dow Jones lost 1.9%. Despite the sell-off, the S&P 500 is still up 14% year-to-date, while the Nasdaq remains up 18% year-to-date. The sell-off was most pronounced in semiconductors and large-cap tech, as well as Chinese ADRs, which have been outperforming this year. I saw questions in the
Beansprout community wondering if this is a healthy correction or the start of a deeper pullback. Let us dive deeper to find out.
A number of global markets have been breaking all-time highs recently
S&P 500 and Nasdaq Composite have both been setting new all-time highs,...
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By Beansprout • July 19, 2026
