Retail traders bought this week’s dip, loading up on tech like Nvidia and Microsoft

Retail investors stepped in and bought the huge dip in the markets this week, picking up shares of beaten-down technology juggernauts. The retail cohort was a net buyer of stocks on Tuesday and Wednesday following Monday’s global market rout triggered by fears of a recession and a hedge fund trade unwind, according to data from JPMorgan. Individual traders bought $302 million worth of stocks over the past week, compared to a net sale of $2 billion worth of equities in the week prior, the firm said. Small investors could be betting that the bull market is still intact despite the dramatic sell-off earlier this week. On Monday, the blue-chip Dow Jones Industrial Average and S & P 500 registered their biggest daily losses since September 2022. Japan’s stock market posted its worst drop since Wall Street’s Black Monday in 1987, contributing to fears of a global turmoil. It’s not looking like a bad bet with the markets recouping a larger portion of the losses. Following this ongoing rally Thursday , the S & P 500 is only down about 0.8% on the week. .SPX 5D mountain S & P 500 Retail investors went back into their in Nvidia and Microsoft , which experienced $552 million and $471 million of retail flows over the past week, respectively, JPMorgan said. Nvidia dropped 5.2% on Monday, while Microsoft fell 3.3%. Broadcom , CrowdStrike and MicroStrategy also saw elevated retail buying amid the volatility, JPMorgan said. On the flip side, retail investors sold health care names during the period, the firm said. Notably, the group sold the rally of pet medication company PetIQ after the firm announced its acquisition by private equity firm Bansk Broup.