10% monthly S&P declines are very rare – 30 out of 988 months (we’re right on the cusp as of yesterday’s close). Typically – not always – the next month sees a good snap-back.
As of this minute, we are down 8.55%.
The last 10% monthly S&P decline was February 2009. The next month saw quite the snapback: Up 8.5%, on the way to a 75% gainer.