Volatility can be highly valuable in the long term to keep markets honest. Without that there is a tendency to add leverage until something far more significant breaks down.
The S&P 500 erased all losses within a week, but selling soon took over again and the indices reached lower depths within two weeks.
So, arguably the rebound is what was odd not the dip. There is a bias when looking at stock markets that says up is good and down is bad. However, accuracy is vastly i more important for the overall economy.