The U.S. stock market has been on such a parabolic march higher that Wall Street investors may have forgotten what a typical, sharp downturn feels like.

Indeed, much has been made about the lack of volatility. The CBOE Volatility Index VIX, +1.29% otherwise known as the “fear gauge,” had been flirting with its lowest close on record, implying that market expectations for a sharp, sudden fall are near rock bottom, as the Dow Jones Industrial Average DJIA, +0.21% S&P 500 index SPX, -0.03% and the Nasdaq Composite Index COMP, +0.16%  scale new heights. (The Dow hit 22,000 in intraday trade early Wednesday)

The recent level of complacency permeating the market has pundits talking about the lack of 5

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Very informative
05-03 04:23 by Liam
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