As of this writing stock markets around the globe are reacting violently to the latest COVID-19 related news. From our perspective, while the past several weeks of volatility has been unnerving, it is important to evaluate the current market in the context of previous global events. We have listed several periods over the span of the past 40 years when the US stock market, as measured by the S&P 500, either corrected or even entered a bear market. While this list is by no means exhaustive, it is intended to show that while previous downdrafts were painful, US equities rebounded impressively over the course of the following year once the market bottomed. It is also important to consider that each sell-off was caused by different events both international and domestic in origin as well as ranging in duration, yet stock prices in the US were higher 12 months afterwards. As tragic as this pandemic has been and will likely continue to be, our sense is that US equities will likely follow a similar pattern and be higher a year from now. [data courtesy Standard & Poor’s and Bloomberg LP © 2020]