S&P 500 Snapshot: Down 4.6% Year-To-Date

The S&P 500 rose three out of five days this week and is just 5.2% below its record high (reached Jan. 3). The index is up approximately 0.34% from Thursday and is down 4.62% year-to-date.

Additionally, the U.S. Treasury put the closing yield on the 10-year note as of April 1 at 2.38%, which is above its record low (0.52% on Aug. 4, 2020). The 2-year note is at 2.44%. The 2-year note has now surpassed the 10-year note.

Back to the S&P 500, here's a snapshot of the index going back to 2012.

A Perspective on Drawdowns

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

Here's a table with the number of days of a 1% or more change in either direction, and the number of days of corrections (down 10% or more from the record high) going back to 2013.

Here is a more conventional log-scale chart with drawdowns highlighted.

Here is a linear scale version of the same chart with the 50- and 200-day moving averages.

A Perspective on Volatility

For a sense of the correlation between the closing price and intraday volatility, the chart below overlays the S&P 500 since 2007 with the intraday price range. We've also included a 20-day moving average to help identify trends in volatility.