Remember the streak?
You know, that streak that saw the S&P go the longest without a 5% correction in history? That would be the streak that everyone was super excited about late last month. That would be the one that looked like this as of January 22:
Well that kept on going, but it is now over – at least intraday:
- S&P 500 FALLS 5% FROM INTRADAY PEAK AS IT SINKS BELOW 2,729
As Bloomberg’s Michael Regan notes, “that record-breaking streak of days without a 5% dip in the S&P 500 may be finally coming to an end as the benchmark gauge just set its low of the day, and is off 5.1% from the last record on January 26 in its worst six-day tumble since the beginning of 2016.”
Somebody wake up Kuroda – there’s still time to save this on a closing basis…