• December 10, 2023

The S&P 500 was at its peak one year ago today. This chart shows the remarkable recovery from the drawdown that ensued

There has never been such a stock market recovery.

Standard & Poor’s analysts have found over the past decade since 1957 that the S&P 500 has fallen 25% or more from an all-time high. The graph shows that this is the best response to a drawdown since World War II.

Exactly one year ago, on February 19, 2020, was the S&P 500
SPX, -0.13%
reached an all-time high and the VIX stock market volatility index
VIX -1.24%
was at a low of 14. That quickly turned in the face of the COVID-19 pandemic spreading across the world outside of China.

“Since then, business attire has been gathering dust around the world while we’re all better at teleworking. Now, 366 days later, there are strong reasons to hope that we are closer to the end than the beginning, ”said Tim Edwards, director of index investment strategy for S&P Dow Jones Indices.

The S&P 500 is up 75% from its March lows. The tech-heavy Nasdaq Composite
COMP, -0.06%
has more than doubled.

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