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Hickey and Walters (Bespoke) submit: While much has been made of the market's declines over the last two days, the chart below shows that these types of declines have actually been common. Since the start of the bull market in October 2002, there have been 119 occurrences where the S&P 500 declined by 1.25% or more over a two day period. This works out to roughly once every two weeks.

One possibility for the increased investor anxiety this time around could lie in the fact that before yesterday, the last occurrence was in late March, making this the seventh longest stretch during the bull market that the S&P 500 went without a two day decline of more than 1.25%.

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two day declines