Thursday, August 04, 2011

Dow Down 500+, S&P off 4.8%

by Bill McBride on 8/04/2011 04:15:00 PM

From the WSJ: Dow Tumbles 500 Points, Putting It in Red for Year

The Dow slid 512.61 points, or 4.3%, to 11383.83, erasing all its gains for 2011.
...
The Standard & Poor's 500-stock index fell 60.26 points, or 4.8%, to 1200.08, putting it in correction territory, having fallen more than 10% since May. The Nasdaq Composite slumped 136.68 points, or 5.1%, to 2556.39, also in the red for the year.

The Chicago Board Options Exchange's Volatility Index, known as the fear gauge, broke the 30 level for the first time since March 16, up 30% at 30.48.
Here is a table of the largest one day declines (in percentage terms) for the S&P 500 since January 1950. There were quite a few large down days in 2008 and early 2009 ...

Largest S&P 500 One Day Percentage Declines since 1950
 DatePercent DeclineClosePrevious CloseSix Months Later
110/19/1987-20.5%224.84282.7015.3%
210/15/2008-9.0%907.84998.01-4.7%
312/1/2008-8.9%816.21896.2415.7%
49/29/2008-8.8%1,106.421,213.27-28.8%
510/26/1987-8.3%227.67248.2215.3%
610/9/2008-7.6%909.92984.94-5.9%
710/27/1997-6.9%876.99941.6423.7%
88/31/1998-6.8%957.281,027.1428.0%
91/8/1988-6.8%243.40261.0711.7%
1011/20/2008-6.7%752.44806.5817.9%
115/28/1962-6.7%55.5059.4710.6%
129/26/1955-6.6%42.6145.6314.1%
1310/13/1989-6.1%333.65355.393.2%
1411/19/2008-6.1%806.58859.1210.1%
1510/22/2008-6.1%896.78955.05-5.0%
164/14/2000-5.8%1,356.561,440.51-2.0%
1710/7/2008-5.7%996.231,056.89-18.1%
186/26/1950-5.4%18.1119.1410.0%
191/20/2009-5.3%805.22850.1218.1%
2011/5/2008-5.3%952.771,005.75-4.8%
2111/12/2008-5.2%852.30898.954.8%
2210/16/1987-5.2%282.70298.08-8.1%
2311/6/2008-5.0%904.88952.772.7%
249/17/2001-4.9%1,038.771,092.5412.2%
252/10/2009-4.9%827.16869.8921.8%
269/11/1986-4.8%235.18247.0623.4%
278/4/2011-4.8%1,200.081,260.34 ---
289/17/2008-4.7%1,156.391,213.60-31.3%
299/15/2008-4.7%1,192.701,251.70-36.8%
303/2/2009-4.7%700.82735.0947.1%
312/17/2009-4.6%789.17826.8427.2%
324/14/1988-4.4%259.75271.587.0%
333/12/2001-4.3%1,180.161,233.42-8.0%
344/20/2009-4.3%832.39869.6031.7%
353/5/2009-4.3%682.55712.8746.2%
3611/30/1987-4.2%230.30240.3410.0%
3711/14/2008-4.2%873.29911.294.2%
389/3/2002-4.2%878.02916.07-6.4%
3910/2/2008-4.0%1,114.281,161.06-25.1%
4010/25/1982-4.0%133.32138.8320.3%