S&P 500 Snapshot: Index Inches Closer to Correction Territory

Core Insights - The S&P 500 index has reached its lowest level in over seven months, currently sitting 8.74% below its all-time high from January 27, 2026, and has experienced its fifth consecutive weekly loss, marking the longest losing streak since 2022 with a decline of 2.1% from the previous week [1]. Group 1: S&P 500 Performance - The S&P 500 index is now close to correction territory, having fallen 8.74% from its peak [1]. - The index has recorded five consecutive weekly losses, the longest streak since 2022, with a total decline of 2.1% [1]. - Historical context shows that the S&P 500 reached an all-time high of 1565.15 on October 9, 2007, before dropping approximately 57% to 676.53 by March 9, 2009, during the Global Financial Crisis [2]. Group 2: Volatility and Moving Averages - The S&P 500 has been below its 50-day moving average since February 27, 2026, and below the 200-day moving average since March 19, 2026 [3]. - The 50-day moving average has been above the 200-day moving average since July 1, 2025 [3]. - The index experienced its largest intraday price volatility of 10.77% on April 9, 2025, since December 24, 2018 [4]. Group 3: Comparison with Equal Weight Index - The S&P 500 is down 6.96% year to date, while the S&P Equal Weight Index is down only 1.56% year to date, indicating a divergence in performance between the two indices [5].