History says last week's drop was a buying opportunity. On Thursday, the S&P 500 declined -4.4%, its largest daily drop since April 2025. Before that day, the index recorded 56 one-day declines of at least -4.0% since 1952. Following such drops, the S&P 500 has gained +1.0% on average over the next week. By comparison, its average weekly return across all periods has been +0.2%. Over the next month, the index has averaged a gain of +2.0%, compared with +0.8% across all periods. Over the following 3 months, the S&P 500 has averaged +6.7%, more than triple the historical average of +2.2%. History suggests the market is set for a meaningful rebound.