How unusual has the recent stock market decline been compared to previous shocks? While no situation is entirely comparable, examining the first 80 days of trading following these kinds of events can provide some insights. The chart above indexes the S&P 500 Index to 100, just before similar events over the last 20 years, including 9/11, the Lehman Collapse, the SARS Outbreak, and the MERS Outbreak, and then tracks subsequent performance. While we’re only 15 days into the COVID-19 impact, the current trend appears to reflect the collapse of Lehman more closely than the other events.
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