BofA Tells Investors: Market won’t Make Rebound Just Yet

The stock market appears to be in the middle of a reset, but Bank of America (BofA) says investors should not expect a major rebound just yet, Moz Farooque reported for TheStreet.

Markets became overly optimistic before external events—such as the Iran war—rattled investor sentiment and triggered a broad reset.

BofA chief investment strategist Michael Hartnett argues that the conditions that usually signal the end of a severe market correction are only partially in place, according to reporting from Seeking Alpha.

Hartnett said the current turbulence in the stock market follows a familiar pattern in which corrections are driven by “exogenous shocks at a time of excess bullishness.”

In other words, markets became overly optimistic before external events—such as the Iran war—rattled investor sentiment and triggered a broad reset.

The S&P 500 slipped from 6,878.88 to 6,740.02, down about 2.0%. The Dow Jones Industrial Average fell from 48,977.92 to 47,501.55, a drop of about 3%. The Nasdaq Composite declined from 22,668.21 to 22,387.68, down roughly 1.2%.

The S&P 500 was last trading at 6,740.02 on Friday, Mar. 6, 2026, according to the Associated Press (AP), down roughly 1.5% year to date.

On Mar. 2, 2026, the index closed at 6,881.62. Since then, it has fallen 141.60 points, or about 2.1%.