Chart of the Day -Thursday, March 19th, 2020
March 19, 2020
Today’s Chart of the Day was shared on Twitter Strategas Research (@StrategasRP). It's a chart of the S&P 500 over the past decade. A lot of people have been comparing the magnitude of the recent decline to past bear markets like 1987, 2000-2002, and 2008-2009. As of today's close, the current drawdown in the S&P 500 stands at 28.85%, which is almost as deep as the 1987 maximum drawdown. On the other hand, we still have much further to fall (about 30%), before we can liken the current decline to the 2008-2009 Great Financial Crisis when the index fell as much as 57%. For more on this, check out this note from Bespoke.