This is now the 10th worst S&P 500 correction going back to 1929
Cracking the top ten
On May 9th, the current downturn became the 15th worst S&P 500 correction going back to 1929.
On June 13th, it became the 11th worst.
Now, it’s the 10th worst:
On the big list of market corrections, the current downturn is really starting to become one of the more memorable events - and it may not even be done with:
In terms of what level the market would need to fall to in order to reach levels on par with the next nine worst downturns on the list, the next big hurdle is in the 3400 range:
Will the market fall another -4.7% to surpass the downturn caused by Volker? It certainly feels possible given how bad the last several trading sessions have been! But, one day, the bottom will be in and we will be on to a new cycle with the current downturn part of the history books. Hopefully, that day is soon…
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