If you weren’t watching Australia’s stock market today, you’ve missed one epic turnaround.
Having been down more than 1.6% in early trade, the benchmark ASX 200 index roared higher, finishing the session up 2.72%.
The gain was the largest since October 24, 2011, and followed the largest decline since January 23, 2009 on Monday.
Business Insider decided to have a look at how the daily trading range compared to other periods of market volatility. For the session it traded in a 229.4 point range, or 4.59% of Monday’s closing level.
Since the index came into existence in early 2000, there have been only 16 other sessions where the daily market range was greater.
Those larger occurred during the height of the global financial crisis of 2008-09, along with the September 11 attacks in the US. Only one – the 6.98% plunge of August 9, 2011 – occurred during the European sovereign debt crisis.