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This Would've Been S&P 500's Worst Two-Day Drop in All of 2017

“That the S&P is down this much even as yields are falling tells me that there is probably still a lot of fear about how sustainable the bounce is.”

By Sarah Ponczek & Elena Popina | Updated on February 28, 2018

It’s testament to how rough stocks had it in February that the last two days, a stretch that would’ve qualified as the worst selloff in all of 2017, barely shows up in a monthly graph.

Not that it wasn’t painful. The S&P 500 Index slid 2.4 percent over Tuesday and Wednesday to cap the biggest monthly retreat since January 2016, as concerns about Federal Reserve policy brought out sellers and briefly pushed the Cboe Volatility Index back above 20. Breadth, a concern even as stocks rallied on nine of 11 days starting Feb. 9, evaporated Wednesday, with only 15 percent of the S&P 500 managing gains.

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