Chart of the Day - Monday, March 16th, 2020

Today’s Chart of the Day was shared on Twitter by Arthur Hill (@ArthurHill). It’s a chart of the S&P 500 over the past two decades. As of today's close, the index is down nearly 30% from its peak just 18 sessions ago. A lot of people have been comparing the current market environment to 2011, where the S&P 500 fell more than 16% in only 11 days, followed by nine weeks of extreme volatility.  Arthur points out that, at this point, 2011 would be the best-case scenario, not the base case. He emphasizes that we can not rule out the possibility of a 50% decline, similar to what investors experienced in the past two bear markets. For more on this, check out his full blog post here.