by Dan Zalipski, CFA & Scott Rosenquist, CFA
The equity markets continue to be volatile. Both the U.S. and international developed markets have had substantial moves this year yet remain relatively close to where they started. Looking only at 2018, the S&P 500 was up nearly 7% at one point in January, only to find itself down 4% in early February. It recovered to positive 4% in early March, only to find itself down 4% by the end of March. At the time of this writing, the S&P 500 has had 32 trading days with moves of 1% or more in 2018 according to DataTrek’s Nicolas Colas. An average year will see around 50 days with 1% moves in either direction, and with the historically volatile months of August and October still to come, it’s likely we will exceed that mark.