The S&P 500 traded in a narrow range from the opening bell and through the lunch hour. A weak early afternoon rally took the index to its 0.18% intraday high, but it was followed by a fairly rapid selloff to the -0.22% intraday low. Some buying in the final hour trimmed the loss to a fractional -0.06% close, snapping a string of three record closes.

The official yield on the 10-year note closed at 2.27%, up four bps from the previous close.

Here is a 15-minute chart of the past five sessions.

Volume was a bit higher than during the previous three record-setting sessions but remains a tad on the light side.

A Perspective on Drawdowns

Here's a snapshot of selloffs since the 2009 trough.

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For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.

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