down 20.4% from the January 3 all-time high and down 19.9% year to date.
For the S&P 500, the 20% down line is 3838, easy to remember if you know that 1938 was the year of the Munich "peace in our time" Neville Chamberlain - Hitler et al pact.
The first time S&P 500 closed above 3500: 8/28/20,
3600:11/16/20,
3700: 12/8/20,
3800: 1/7/21,
3900: 2/8/21,
4000: 4/1/21
4100: 4/9/21
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S%26P_500
So with today's S&P 500 close of 3818, it's reversed forward progress index-wise to back to about January 2021, although it has had about 1.7%/year dividends in the meantime, or something like that.
Meanwhile, inflation has reduced the purchasing power of the dollar by 13.8% since January 2021. Meaning today's S&P 500 close of 3818 has the purchasing power of 3291, a level first reached between December 2019 and January 2020.
CPI: https://data.bls.gov/timeseries/CUSR0000SA0
3291 -- let's see, 1932 was the low point of the Great Depression stock market crash
And 1991 was the year of the Telephone Consumer Protection Act of 1991 that gave us the inviolable (sarc) do not call list.
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