Investors have enjoyed nice gains over the past five years. Since September 2016, the S&P 500 index has risen 106%, but it was certainly a bumpy ride.
There have been two notable dips in the market over the past five years. In late 2018, the S&P 500 fell 14.3% in the fourth quarter. The March 2020 crash at the start of the pandemic was pretty scary, as the index lost a quarter of its value in a mere three weeks.