FYI: If you were wondering whether the market of 2018 was going to be anything like the market of 2017, this week you received your answer loud and clear. The low-volatility financial market environment that characterized last year has been violently replaced by a high-volatility, tumultuous backdrop so far this year.
On Monday, the S&P 500 crumbled by 4.1%, its steepest one-day decline since August 2011. The move put the venerable index 7.8% below its all-time high that was struck just a week and a half ago, and 0.8% into the red on a year-to-date basis.
At the same time, the Cboe Volatility Index (VIX) spiked 115.6% to last trade at 37.32. According to Cboe, that’s the largest percentage gain for the index in its history.
Regards,
Ted
http://www.etf.com/sections/blog/stocks-sudden-swoon-raises-questions
