A Devilish Day in the Market

Today (2/2/2018), the Dow suffered its largest single-session point plunge since 2008, losing 666 points. Expressing the decline in percentage terms (2.54%) puts it at about a quarter of what we saw during the darkest days of 2008. However, even this muted level feels uncomfortable because we have become so accustomed to incredibly low volatility over the past few years, and lately, we have only seen volatility in the upward direction.

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