The S&P 500 closed down 0.04% for the week at 5,344.16 points, marking a four-week losing streak—the first since September 2023. The index experienced significant volatility, including a 3% drop on Monday linked to global recession fears and a surprise interest rate hike from the Bank of Japan, which caused a sharp sell-off in equities. Despite this, the S&P managed to recover nearly all its losses throughout the week, reflecting investor attempts to find a market bottom. The technology sector provided substantial support for the index on Friday, while the Cboe Volatility Index fell after spiking earlier in the week. Federal Reserve officials indicated that cooling inflation may lead to interest rate cuts, with markets pricing in a 55% chance of a 50 basis point cut at the next meeting. Investors are also awaiting upcoming U.S. consumer prices and retail sales data which could provide further insights into economic conditions.