S&P 500 and Nasdaq are going backwards to their pre-pandemic levels.. How likely is this?

S&P was around 3400 and Nasdaq was below 10000 before the pandemic started in 2020. With all the stuff happening lately, do you think that is it possible to see the indicies going back to their pre-pandrmic levels in a couple of months? How likely do you think that is? I can totally see S&P going below 4000 but going below 3400 would be considered a big crash and Fed might stop their QT policy at some point before that happens.