Google Core Update
A Google core update is a broad update to Google's core algorithm that rolls out several times a year and adjusts how the search engine judges quality and relevance across the entire index. Google announces them on its Search Status Dashboard, and a rollout usually takes one to two weeks.
A core update does not go after particular sites or particular rule breaches. Google recalculates which pages deserve the top positions, using updated signals for content quality, E-E-A-T and search intent. That is why rankings can move noticeably without anything having changed on the site.
Several of Google's quality filters began as separate named updates, among them Google Panda and Google Penguin, and were folded into the core algorithm long ago.
Movement during a rollout says little; the picture settles only once Google reports the update finished. A drop is not a penalty with a specific fault behind it either. The algorithm has reassessed which pages cover the intent behind the queries best, so no technical fix brings the positions back. Recovery comes through the quality of the content, and improvements typically land in full at a later core update, because the quality signals are recalculated in large steps.
For SEO those signals have become one shared currency across surfaces, since AI Overviews and assistants lean on them too. The guide to algorithm updates covers how the updates are handled.