Institutional investors seized the early August market volatility as an opportunity to purchase discounted stocks and equity ETFs, according to a Tuesday Bank of America note.
Earlier this month, the S&P 500, as tracked by theSPDR S&P 500 ETF Trust(NYSE:SPY), dropped more than 8% from its July 16 high, while the Nasdaq 100, heavily weighted in tech stocks, plunged over 10%, officially entering correction territory.
The CBOE Volatility Index, or VIX, commonly referred to as the market fear gauge, skyrocketed to above 60 points, marking the highest surge since March 2020.
Major Inflows After Market Slump
Despite the volatility, last week saw a...
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