Before the US stock exchange opened, global markets were having a bad day. China's Shanghai had posted a -1.45% loss, Japan's Nikkei -2.51%, and the Euro STOXX 50 was in the red and would end the session at -1.49%. The S&P 500 exhibited indecision during the first hour and then rallied to its 1.20% intraday high in the early afternoon. The index then gave back most of its gains before some buying in the final 20 minutes lifted it to its 0.53% close.
The yield on the 10-year note closed at 2.23%, up 2 bps from yesterday's close.
Here is a snapshot of past five sessions.
Today's intraday price range was at the 80th percentile of 174 market days in 2015, but that was the smallest in seven sessions. Trading volume was unremarkable.
A Perspective on Drawdowns
Here's a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a log-scale chart base on daily closes since the all-time high prior to the Great Recession.
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