Following the September 2008 financial crisis, the market didn’t hit its bottom until a few months later, in March 2009. On March 6, the S&P 500 index hit what would be its lowest intraday level: 666 points. Analysts such as Nicholas Colas, co-founder of DataTrek Research, have long been referring to this for years as “the Devil’s Low.” It was 57.7% below the S&P 500’s intraday pre-crisis high in October 2007. An equivalent drop today would bring the S&P 500 from its intraday high in February to 1,435. Currently...

Source: Wall Street Journal March 18, 2020 14:14 UTC