Front pages of the New York Times and the New York Post on March 17, 2020, reflected the dour view of economic conditions COVID-19 had created. The day before, an 11.98% drop in the S&P 500 echoed the sentiment of millions of investors who feared what could be a dire health and economic period.

All 11 sectors of the S&P 500 were battered through the virus-induced decline, but five trading sessions later and 6.23% below its March 16, 2020, closing level, the S&P 500 at 2,237.40 was about to begin an unprecedented recovery.

A year later, the recovery continues to fuel equity market gains and set new all-time highs that by midday March 16, 2021, had the S&P 500 77.65% above the March 23, 2020, close.

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