Atlas Macro

Markets

S&P 500

A market-cap weighted index of about 500 of the largest US listed companies, chosen by a committee.

Key points

  • Benchmark for US equity market performance.
  • Heavily weighted toward technology sector.
  • Used in most passive index funds.

Example

If SPX drops 5% while VIX rises 10 points and HY spreads widen 75 bps, risk-off sentiment is broad-based across assets.

In history

The S&P 500 fell ~34% peak-to-trough in Feb–Mar 2020, then doubled off the lows by late 2021 before another ~25% drawdown in 2022.

Related terms