The S&P500 dropped 2.6% on Friday and the chances of that happening roughly is 0.14% over 10,000 observations (trading days)
on any given day. It goes to show you that these events are rare but they do happen. Could things get worse for the S&P500 and the markets in general? Of course they could but we won’t know for certain until each day goes by!
PS: You’ll be happy to know that a 3.2% down move for the S&P500 has only a 0.02% chance of happening (over 10,000 obs). If I see that, I’m a big buyer!
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