S&P 500 Snapshot: Selling On Russia-Ukraine Tensions

Monday's good start to the week was erased yesterday and then some, on escalating Russia-Ukraine tensions. The S&P 500 opened at its -0.14% intraday high and then traded sideways until around 1:30, when the Wall Street mavens heard reports of Russian troops preparing to invade Ukraine. The index quickly plunged to its -1.30% intraday low. A bit of buying in the final hour trimmed the loss to 0.97%.

The yield on the 10-year Note closed at 2.49%, down 2 bps from yesterday's close. It is now only 5 bps above its interim closing low of May 28th.

Here is a 15-minute chart of the past five sessions. The S&P 500 is up 3.89% year-to-date and down 3.41% from its record close on July 24th.

Here is a preliminary daily chart of the index. Volume increased on today's trade but remained below the peak levels during last week's selloff.

A Perspective on Drawdowns

The chart below incorporates a percent-off-high calculation to illustrate the drawdowns greater than 5% since the trough in 2009.

For a longer-term perspective, here is a pair of charts based on daily closes starting with the all-time high prior to the Great Recession.