In particular, the S&P 500 Index has defied gravity for over 2 years. While cracks appeared in many market areas, the “headline indexes like the S&P 500 and the Dow stayed at levels which convinced the investing public that all was well. When it was over, 3 years later, the S&P 500 had cratered by nearly 50%. What’s more, 5 years after the top, it was still essentially in bear market mode, nearly 18% below that early-2000 high. By late 2012, the S&P 500 was still only 5% above where it peaked in 2007.

Source: Forbes March 11, 2020 16:24 UTC