In 2024, the median Wall Street forecast undershot where the S&P 500 actually finished the year by 18%. Firms are pacing to be much more accurate this year, but they're still 3% below the consensus target with a month to go. Morgan Stanley, JPMorgan, and Goldman Sachs — which all had the same target — are currently 5% behind.

Volatility on Wall Street this week was a reminder of just how frail conviction around the stock market has been: Every bounce was sold, every selloff spiraled and investors still were skeptical if it had bottomed.

The stock market got some help from the bond market, where Treasury yields were mixed following jumps the day before.

It's not quite as bad as a bubble, but an "air pocket" in stocks can still hurt.

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US stock market crashes today as the Dow drops 127 points, the S&P 500 slips 29 points, and the Nasdaq sinks 161 points. Tech and crypto stocks drag markets lower. Bitcoins fall hits Bitfarms and Cleanspark.

Whether or not Tepper knows something analysts don't, he appears to be on the right track with this big buy in Q3.

Stock futures rise after a volatile Nasdaq session and key jobs data. Get market insights, economic updates, and what to watch today.