Market volatility looks set to stick around, with stock futures dropping after a wild Wall Street session that harked back to 2008, as the S&P 500 SPX, -1.95% and Nasdaq COMP, -2.42% dug out of deep losses to close higher.

“At one point yesterday it felt like we were in a full-blown crisis let alone a recession,” noted Deutsche Bank strategist Jim Reid and his team. As JPMorgan reports, some individual investors threw in the towel on 24 January, and ahead of a huge newsy week.