If you ask members of the Trump Administration (one in particular), the S&P 500’s recent dip into correction territory isn’t a bad thing.
In fact, Treasury Secretary Scott Bessent (a former hedge fund manager) said in an interview Sunday, “I can tell you that corrections are healthy; they are normal.”
Not sure if “normal” would be the right term, as the S&P 500’s recent 10% decline from its February high was just the 56th time since 1929 that the benchmark index has dipped into correction territory, according to Reuters.
Here are some other numbers when it comes to corrections…
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