Stock Sell-Off Echoes 2020 Crash: What Technicals and History Say Next

S&P 500 has fallen 18% from the peak as Trump's aggressive worldwide tariff war intensifies, and the bloodied futures market suggests stocks will go through further pain on Monday. The rapid decline and extreme technical bearishness are reminiscent of what happened in March 2020, when the S&P tumbled 35% in a month following the Covid shock and a liquidity crisis, during which the stock market experienced four circuit breakers. Though the triggers are totally different—with this round of selling driven by presidential actions—the past experience and technical analysis are clearly indicating what may come next.