Here's why the S&P 500 Index, SPYM, SPY, and VOO ETFs may drop 5.4% soon

The S&P 500 pulled back from its year-to-date high of $7,618 to $7,400, a decline of $218 or about 2.9%. The move reflects profit-taking and a jump in US bond yields after last week's strong jobs report. The article points to a risk-off tone driven by rates and positioning rather than a new fundamental catalyst.

Analysis

The S&P 500 pulled back from its year-to-date high of $7,618 to $7,400, a decline of $218 or about 2.9%. The move reflects profit-taking and a jump in US bond yields after last week's strong jobs report. The article points to a risk-off tone driven by rates and positioning rather than a new fundamental catalyst.