The US stock market is experiencing its sharpest volatility in months as the S&P 500 drops more than 5% from its record high for the first time since November. This has left investors weighing whether this represents a buying opportunity or the onset of a more severe pullback. History suggests that most 5% pullbacks present buying opportunities and recover quickly, but a significant minority of these tend to deepen into corrections. The S.P 500 has experienced a drawdown of 5% or greater roughly once every 14 months over the last seven decades. However, so far, investors have been cautious about buying up battered stocks.