Between the start of 2023 and the midpoint of 2024, the bulls were firmly in control on Wall Street. The rise of artificial intelligence (AI), the return of stock-split euphoria, and better-than-expected corporate earnings/economic data helped propel all three major stock indexes to multiple record-closing highs.

But as history has repeatedly shown, the stock market doesn't move up in a straight line. Recently, the growth-focused Nasdaq Composite entered correction territory, with the index shedding nearly 1,400 points, or roughly 8% of its value, during the first three trading days of August.

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Source Fool.com