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Another Day, Another $2 Trillion Has Stock Traders Shuddering

  • The last time the S&P did this was the middle of October 2008
  • VIX message comes true as surging volatility begets a bounce
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A Wrap Of Wall Street's Wild Week
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Here’s something to ponder as you consider Friday’s roaring rebound in equities. To undo the worst stock market crash since 1987, it took the biggest rally since October 2008.

That’s right: The last time shares surged this much, it came smack in the middle of the worst month in 33 years, one the S&P 500 finished down 17%. So while Wall Street was naturally thrilled to finish its most volatile stretch since the financial crisis on an up note, nobody was ready to call the bottom.