The S&P 500 has declined 9.9 percent since reaching a four- year high of 1,419.04 on April 2

The S&P 500 has declined 9.9 percent since reaching a four- year high of 1,419.04 on April 2, trimming its advance since last year’s low on Oct. 3 to 16 percent. That compares with a 14 percent drop in the Stoxx Europe 600 Index (SXXP) since its 2012 peak, a retreat that cut the advance since its low of 214.89 in September to 9.4 percent.
Changing Tone