[sfteus]

Nearly every market worldwide was dropping in 2020 due to the pandemic.

IIRC, the drops in 2022 correlated with federal interest rate hikes and other federal policies designed to help ease inflation, with the expectation that markets would rapidly cool but avoid a larger overall crash.

Simply put, a 10% drop isn't in itself concerning if correlated with shifting market conditions. It is when those in charge are foot-gunning the market with their policies, and then threatening to double down in the face of the 10% drop they caused.