One Year Ago Today

Today is the one-year anniversary of Black Monday 2.0. On March 16, 2020, the Dow Jones Industrial Average plunged 2,997 points for a loss of 12.93%. The S&P 500 lost 11.98%. Only the 1987 crash was worse.

As bad as it was, the market still had another week to go before it hit rock bottom. Still, even if you jumped into the market on March 16, the Dow is over 62% higher today.

If you’re familiar with the famous Variety headline “Wall St. Lays an Egg,” last March 16 was even worse. It was also on March 16 that the Federal Reserve went full Blutarsky: they lowered interest rates to 0.0%.

One year ago today, the VIX, the Volatility Index, closed at 82.69, an all-time high. On a four-day run last year, the VIX registered four of its seven highest closes.

Posted by on March 16th, 2021 at 10:57 am


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