(Bloomberg) -- If that tiny loss in the S&P 500 almost felt like a huge gain, there’s a good reason.

The S&P 500 was down 2.9 percent at its lows of the day. From that level, the benchmark equity gauge rose 2.8 percent. U.S. stocks haven’t declined that much and gone on to enjoy a bigger intraday recovery at the close since May 25, 2010. That session, the S&P 500 fell as much as 3.1 percent and ended the session 3.1 percent higher.

To contact the reporter on this story: Luke Kawa in New York at lkawa@bloomberg.net

To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Brendan Walsh

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