On April 8, 2025, the S&P 500 experienced its largest intraday reversal in history, closing sharply down and marking a significant volatility spike. The index recorded a 12% decline over four trading days, equating to a loss of approximately $1.5 trillion in market capitalization. This downturn is notable as it reflects the worst four-day stretch since October 2008. The S&P 500's trading range has exceeded 5% for four consecutive days, a phenomenon previously observed only in 1987, 2008, and 2020. The rapid decline has raised concerns over market stability, with some analysts attributing the volatility to escalating trade tensions and policy shocks. The index has reportedly lost over $6 trillion in market value in recent sessions, with a two-day decline of 10.5%, paralleling historical downturns from previous financial crises.