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PERSPECTIVES ON MARKET VOLATILITY: The Merits of Hanging In (And Why April Felt So Bad)
If April’s market movements felt unsettling, you weren’t mistaken. While volatility is a natural part of equity markets, the magnitude of April’s decline was unusual. A two-day drop of more than 10 percent in the S&P 500, seen over April 3 and 4, is rare and has occurred only four times since 1980: on Black Monday in 1987, twice during the 2008 Global Financial Crisis (GFC) and in the early days of the 2020 pandemic.