Goldman says corrections are buying opportunities and rarely turn into bear markets

Traders work on the floor of the New York Stock Exchange at the opening bell January 25, 2022.
Timothy A. Clary | AFP | Getty Images

The S&P 500 briefly fell into correction territory last week as the Federal Reserve's policy shift created massive gyrations in the market, but Goldman Sachs believes the drawdown marks a buying opportunity for investors.

And if history is any guide, corrections rarely turn into bear markets unless the economy is heading into a recession, according to the Wall Street firm.