Big Down Days

Yesterday the S&P 500 fell 3.29%.
It was the worst single-day loss since early February when stocks fell 3.75%.
Looking back at the daily returns on the S&P 500 since the fall of 1928 shows stocks have seen 325 days with losses of 3% or worse. That means it happens roughly three-and-a-half times a year on average. It’s rare but not completely out of the ordinary.
Averages can lie to you though when simply lo…