Yesterday I posted a chart of how Monday’s selloff compared to other bad days in stock market history.
So here’s a chart, via Calculated Risk, of the S&P 500 today compared to other days.
It was certainly a curious day. When the Fed released the statement at 2:15 p.m. promising exceptionally low rates for the next three years but giving little indication of more aggressive measures, stocks dove, only to soar as 4 p.m. neared. It’s interesting that a divided Fed could say that they expect very weak economic conditions for the next two years, and stocks would jump.