S&P 500 has been down 15%+ in a single quarter 9 times since 1940.
It was only negative in the next quarter 1 time. (2008) View
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Exxon Mobil Corp. said in a filing late Friday it expects a boost of at least $2.5 billion to its bottom line in the second quarter from rising prices for oil and gas, with billions more coming from higher margins for gasoline and other energy products.