The day after. The S&P 500 Index is up in early trading after the worst two day sell-off since 2015. Covid-19 (coronavirus) fears sparked the selling once again after the CDC warned about a possible spread to the US. This morning the concerns remain, as various new reports of the virus across Europe are in the headlines.
Down 3% again. The S&P 500 Index fell more than 3% for the second consecutive day for the first time since August 2015, and November 2008 before that. As a result, the S&P 500 is now more than 7.6% off the all-time high it set just one week ago. Importantly, most years tend to see multiple 5% pullbacks per year, but the quickness of this one is noteworthy. We will take a closer look at 5% pullbacks later today on the LPL Research blog.
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