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.

Continue reading the full report (PDF)

About the author

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/