Longest streak without a 3% correction in U.S. history
One could argue that 2017 may go down as one of the most boring years ever for the U.S. stock market. Earlier this year in July, the U.S. Volatility Index, known as the VIX, hit a new all-time low. And now this past Monday, the S&P 500 index completed its longest streak ever of consecutive days without a 3% intraday drawdown, beating its previous longest streak of 241 days back in 1996. Here are a few more stats to illustrate the lack of volatility this year, courtesy of LPL Financial:
- As of the end of last week, the S&P 500 had gone 33 straight days without a 0.5% drop, the longest streak since 1995.
- The S&P 500 has fallen by 1% or more in a single day only four times this year, the fewest for a full year since 1964.
- Its average daily close on an absolute basis has been 0.3% this year, the lowest since 1965.