Since the most recent leg higher of this bull market began in October, today marks the 13th day that the S&P 500 was down more than 1% at noon. In the table below, we highlight each of those days along with the performance of the index from noon through the close. As shown, the S&P 500 has averaged a decline of 0.32% with positive returns only five out of thirteen times.
So far this year, today's decline is only the second time the S&P 500 has been down 1% at noon. The only other day was on March 6th, when the S&P 500 was down 1.1% in the morning and traded down an additional 13 basis points for the rest of the day.
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