Sources: Bloomberg, William Blair Equity Research
2.0
2.3
2.9
3.7
4.4
4.3
4.1
3.9
3.5
3.0
2.4
1.9
3.9
4.0
4.2
4.2
Average Behavior of Index for all Recessions Since 1945 (Index rebased to 1 and Economic Peak)
S&P 500 Around the 2011 Debt Ceiling Standoff
