Equities and downturns: equities always sell off in a recession
S&P500 DECLINE FROM 5 YEAR PEAK
0
0
-10
-10
-14
-20
-20
-15
-17
-20
-21
-30
-30
-27
-34
-40
-40
-36
AVERAGE DRAWDOWN 31%
-50
-50
-48
-49
-60
-60
-57
50 55 60 65 70 75 80 85 90 95 00 05 10 15 20 25
1
Sources: Standard & Poor’s, NBER
41
@2023 Not to be reproduced without permission from Minack Advisors, info@minackadvisors.com
Made with FlippingBook interactive PDF creator