In the first week of August, the volatility index (^VIX) spiked to nearly 40, its highest level since March 2020. It has since cooled in late August as equities (^DJI, ^IXIC, ^GSPC) bounced back from sell-offs, fueled by a rally in tech stocks.

Truist Co-Chief Investment Officer and chief market strategist Keith Lerner discusses how he is viewing the tech sector and volatility trends during this market cycle.

"Now, the first thing I'll just say the pullback we've seen off the low, I mean the peak to trough decline was about 8.5%. If you look at it historically after strong first halves, you normally see a correction of about 9%. So that was, pretty good or pretty consistent with history," Lerner tells Yahoo Finance. "You also tend to see, one or two or three other corrections by the end of the year. So I think we'll likely have another corrective period. But I think here's the important thing is that we're in a bull market. The primary trend is still positive."

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This post was written by Luke Carberry Mogan.