Goldman Sachs Partner Urges Buying as S&P 500 Slips 2.6%; Calls Sell-Off a 'Healthy Correction'

US equities sold off sharply on Friday, June 5, 2026, with the S&P 500 losing 2.6% to snap a nine-week winning streak and the Philadelphia semiconductor index plunging over 10% in its worst day since March 2020. Goldman Sachs partner John Flood called the drop a healthy correction and urged investors to buy the dip, asserting such opportunities will be scarce this year. Stronger-than-expected May US payrolls data sparked the rout by reviving Fed rate-hike fears. Flood attributed the decline to technical profit-taking and anticipation of new equity supply, characterizing it as a normal bull-market pullback rather than a trend reversal. He sees a “clear path” for the S&P 500 to reach 8,000 in 2026, noting that buying 2% dips has historically been rewarded. Goldman’s sentiment gauge sits near neutral despite repeated record highs, signaling no excessive optimism. Flood expects robust IPO demand and corporate buybacks to support the market. He warned that systematic funds could start selling if weakness persists and any earnings disappointments would be a red flag, though none are visible.