S&P 500

The US market saw its biggest correction in at least a year. It posted its worst week since the pandemic started, with the S&P 500 falling more than 10% from its all-time high and Nasdaq dipping sharply.

On the bright side, this massive decrease may prompt new growth in the market, especially after the Fed clarifies its plans on monetary policy. Other key reports are the USD GDP, which is projected to rise to 5.6%, and inflation in December.

NASDAQ is now 2,400 points below its 2021 high (down 15%).

US indices for the past week:

Dow - 35.440 to 34.360 points (down 1,080 pips or 3%)

NASDAQ - 14.580 to 13.860 points (down 720 pips or 5%)

S&P 500 - 4.59 to 4.41660 (down 180 pips or 4%)

Forecasts:

Dow - 34.000 to 34.800 points

NASDAQ - 13.500 to 14.300 points

S&P 500 - 4.350 to 4.500 points

Conclusion: Although a correction is ongoing in the US market, new growth is also possible.