ThisTracks

The Economic Watch Desk

ThisTracks the Market

Should I Be Worried?

Week of October 15, 2026 · updated October 15, 2026

46 Normal

↑ This week's reading is rising compared to last week.

This is a gauge, not a crystal ball. It reflects where economic stress indicators sit today — it does not predict what markets will do next.

What moved this week

S&P 500 drawdown

Currently: -1.3% from 1y high

S&P 500 drawdown got worse this week (risk score +20), now at a risk reading of 46/100. How far stocks have pulled back from their recent highs — a rough gauge of how nervous investors are right now.

Financial conditions (NFCI)

Currently: -0.49

Financial conditions (NFCI) got worse this week (risk score +17), now at a risk reading of 58/100. When this widens, it gets more expensive for businesses and households to borrow — a leading sign that lenders are getting nervous.

High-yield credit spread

Currently: 3.16

High-yield credit spread got worse this week (risk score +7), now at a risk reading of 59/100. When this widens, it gets more expensive for businesses and households to borrow — a leading sign that lenders are getting nervous.

What to do about it