The S&P 500 is down over 1% this morning. While in the old normal that would be nothing much to note, in the new normal, this is the biggest drop since October 11th!
The 110-day streak without a 1% drop is over... this was the longest streak since May 1995
Below is a look at historical streaks of trading days without a 1%+ decline going back to 1928:
VIX topped 12.5 for the first time since february and is breaking towards its 100DMA...
And for those expecting The Fed to step in and save the day... Don't hold your breath!
Don't care about stock market fall itself. Care abt potential financial instability. Stock market drop unlikely to trigger crisis. #AskNeel https://t.co/Cv7ENuJuqU
— Neel Kashkari (@neelkashkari) March 21, 2017
And sure enough