The year 2011 should be known as the year of volatility. After rising 8.4% to start 2011, the S&P 500 Index fell as much as 19% through October, and then rallied through year end to finish flat overall. During the second half of 2011, the markets swung wildly as traders reacted to news emanating from Washington and Europe. Volatility peaked in August, which included four consecutive days when the Dow Jones Industrial Average alternated up and down by more than 400 points. Such an event has never happened in the history of the stock market. During August, share prices changed an average of 2.2% each day, the most for any August since 1932. From September onward, the average daily price change has been 1.3%. By comparison, the 50-year average daily change before the collapse of Lehman Brothers in 2008 was only 0.6% per day.