Below is a chart of the number of days per year that the S&P has dropped by more than 1% going back to 1957. Last year there were 48 such days; there were 73 in 2008. On average, the S&P drops by 1% or more 26 times per year. In 1961, 63 and 64 it dropped by 1% only 3 times, the lowest in the data-set.
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