S&P 500 opened in the green, assisted by an upbeat Industrial Production report. But global anxieties and the continuing plunge in Crude Oil prices ultimately took their toll. The index hit its -1.00 intraday low shortly before noon. It oscillated during the afternoon to its trimmed -0.6% close. That was far better than its European counterparts -- e.g., the Euro STOXX 50 took a -2.47% drubbing. Today's decline was the fifth loss in the six sessions since its record close.
The yield on the US 10 Year T-Note ended the day at 2.12%, 2 bps above Friday's close.
Here is a 15-minute chart of the past five sessions.
Here is a daily chart of the index. Today's trade was an slightly increased volume, and the index closed below its 50-day moving average.
A Perspective on Drawdowns
We're now five days off the record close in the S&P 500. Here's a snapshot of selloffs since the 2009 trough.
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.
