I can see the lead on CNBC tomorrow morning already
Market Plummets 3%; Worst daily move since…(Cues dramatic music)
a week ago Monday. (Yanks needle off record)
Yes, for all the breathless talk on CNBC and Fox Business today, the last time we saw the market drop this much in one day was August 5th. Less than 2 weeks ago. You remember don’t you? Yeah, neither do I.
I was prepared to spend some time this afternoon going back through the year to find the last 3% drop in the market. 29 seconds later, voila.
In fact, August 5th was basically a twin of today. The market (S&P 500) fell practically the same amount and finished at essentially the same level, 2,844 v. 2,840, where it stands today[Read more…] about How Common are Large One Day Market Moves?