After closing 2014 at a then-all-time-high of 1,848, the stock market (represented by the S&P 500) has been on a bit of a wild ride since the beginning of the year.
It climbed to its now all-time high of 1,850 on Jan. 15, then tumbled all the way to 1,737 on Feb. 5.
Turmoil in the emerging markets had market watchers everywhere saying that this was the beginning of the 10% correction we’ve been waiting for. Others said this was the beginning of the crash.
All of that stuff could still happen.
But at 1,838 today, the S&P 500 is now only down 0.6% for the year. And at it’s lowest point it was down just 6%.
We’re not making any calls here. We’re just observing that the markets can be quite fickle.
Here’s the year-to-date chart from Bloomberg: