It often is easy to forget anniversaries, but for equity investors, the COVID-19 market bottom forever will be memorable. It comes alongside days like October 1987 and Christmas Eve 2018.
The 20.47% loss in the S&P 500 on October 19, 1987, set the still-standing record for the worst one-day percentage loss. Following drops in 11 of the previous 14 trading sessions, the 2018 Christmas Eve 2.47% loss pointed to a possibly bleak holiday. The March 16, 2020, 11.9% loss set the stage for the market’s ultimate bottom only five trading sessions later.