A lot of turmoil in the stock market this week and it started with consecutive 3% declines in the S&P 500 (SPX). That kind of a move definitely gets your attention. I heard on CNBC that if the SPX were to decline by 3% for three days in a row, that would be an event that hasn't occurred since 1931 in the depths of the Great Depression.
But what about the consecutive 3% drops in the SPX? When in market history has that occurred? Well I came across article in Seeking Alpha that gives some perspective on this event. The article was created by a person that goes by the name Ploutos. I found the article very interesting.
The article is called “A History of Consecutive -3% Days”.