
How bad were things for the S&P 500 Index ($SPX) on Thursday, Nov. 20? Not quite as bad as you might think.
I’ve been writing here on Barchart for months, lamenting the fact that a small number of huge stocks are carrying the market. On Thursday, those stocks, mostly in the tech sector, reminded traders that markets often drop faster than they rise. It’s only a day, but all trends begin that way.