Between May 20 and May 22, 2025, the S&P 500 and major U.S. equity indices experienced notable volatility. On May 20, the S&P 500 ETF (SPY) closed down 0.34%, the Nasdaq 100 ETF (QQQ) declined 0.33%, and the Dow Jones Industrial Average ETF (DJI) fell 0.27%, while the Russell 2000 ETF (IWM) edged up 0.07%. The following day saw sharper declines at the opening bell, with SPY down 0.58%, QQQ down 0.56%, DJI down 0.78%, and IWM down 1.01%. By the close of May 21, losses deepened significantly: SPY fell 1.59%, QQQ dropped 1.40%, DJI declined 1.88%, and IWM decreased 2.82%. Year-to-date performance as of May 21 showed SPY down 0.5%, QQQ up 0.35%, and IWM down 8%. On May 22, the market showed some stabilization; at the opening bell, SPY was flat, QQQ gained 0.19%, DJI declined 0.19%, and IWM fell 0.42%. By the close on May 22, all four indices posted slight gains: SPY rose 0.04%, QQQ increased 0.19%, DJI was unchanged, and IWM gained 0.02%. The data reflects a period of market weakness followed by modest recovery across major U.S. equity benchmarks.