Twenty-two days.

That is all it took for the S&P 500 to fall 30% from its file excessive, the quickest drop of this magnitude in historical past.

The second, third and fourth quickest 30% pullbacks all occurred through the Nice Despair period in 1934, 1931 and 1929, respectively, in line with information from Financial institution of America Securities.

"This isn't good firm for 2020," Stephen Suttmeier, the financial institution's technical analysis strategist, mentioned in a be aware on Monday. "The 2020 correction continues to make historical past, having already claimed the title because the third quickest finish to a bull market going again to 1928."

The S&P 500 tanked practically 15% final week alone, pushing the benchmark 32% beneath its all-time excessive reached on Feb.19. Traders continued to dump equities at a fast tempo as they feared that the financial fallout from the coronavirus outpaced the actions from world central banks and governments.

Losses continued Monday.

With a decline of such excessive pace, some on Wall Avenue...