6 horrific stats about the US market bloodbath

It’s ugly out there in the markets today.

The Dow was off by as much as 379 points.

The S&P 500 is on track to close the week down by over 4%.

And commodities like oil and copper have been getting wrecked.

For some context, NYSE floor governor Rich Barry offers some ugly stats in his mid-day email:

1- This is the worst week for the market since 2011.

2- Keep an eye on Dow 16,510… That is the level where the Dow would enter ‘official correction territory’ — off 10% from its recent high.)

3- The S&P 500 is now down 4.5% for the week. The last 4%+ weekly drop was week of 5/8/12. It has happened ten times since the Bull began its run in March ’09. The average move the following week has been +2.3%.

4- The Dow has not experienced back-to-back down 300+ point days in the Dow since November 2008.

5- Oil hit its lowest level since March 2009. (The S&P 500 was trading below 700 in March 2009.)

6- The VIX, (fear index), is up 82% for the week(!).

“In sum, it is ugly,” Barry said.

That being said, this clearly isn’t Barry’s first rodeo.

“However, market corrections are a fact of life, and they can be a healthy occurrence in the long run. Plus, we were certainly due for a pullback.”

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