The number of days in which the S&P 500 had at least a 1% move in Q1 2008 was 51%. This was the largest percentage for a Q1 since 1934 and the 5th highest percentage for a Q1 in history. I read this stat in an article in yesterday's journal recapping the first quarter US equity markets.
What does this stat mean? An analogy may help explain what this means. On about 51% of the days in Q1 I felt like I was a piece of laundry in the washing machine spun around in all different directions and speeds. Not really the most pleasant of feelings. Basically this means that for a Q1, the S&P 500 volatility was at unprecedented levels and at the highest levels since the heart of the Great Depression.
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