Question: After the Federal Reserve's first rate hike on March 16, 2022, what was the maximum drawdown of the S&P 500 Index over the following three months (i.e., from March 16 to June 16, 2022)? Please provide the date range during which this maximum drawdown occurred, as well as the drawdown percentage (rounded to two decimal places).
Answer: The peak date was March 29, 2022, and the trough date was June 16, 2022.
The maximum drawdown was 20.83%.
Rounding errors are allowed.