The Impossibility Of A Two Digit Drop (In As Many Days) In The Art Market
August 26, 2015
Recent stock market volatility has seen the S&P drop 10% in the last three sessions and the VIX Volatility Index go up 250%. Such abrupt corrections would require investors, by one metric, to go back 75 years to find a similar event. However, by other metrics, comparable events can be recalled as recently as 2011, 2008 and 1998. The S&P and Nasdaq were today at their lowest since October 2014 and the Dow Jones Index at its lowest since February 2014 (nearly down 600 points).