Someone just posted this on twitter about the stock market drops:

[George II]

Top 8 Largest Dow Jones Drops in American History.

1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18

[Hoyt]

1. I guess there goes meme that trump's friends are manipulating the market.

Or maybe they are, and it’s caught up with them.

[cbdo2007]

2. You can manipulate the market both ways - up and down. Sometimes simultaneously.

[Hoyt]

12. Wouldn't do trump a lot of good, though, since he brags about high market.

[yardwork]

21. He and his buddies could be making a lot of money both ways.

[brewens]

15. Yup. Especially if you know ahead of Time what is going to cause the drop. n/t

[ck4829]

26. +1. *Another* thing that discredits the Dow as a barometer of the economy

[NRaleighLiberal]

7. I'd love to know if they are shorting...

[yonder]

35. I think that's spelled sharting.

[NRaleighLiberal]

38. indeed!

[malaise]

3. Bigly is as bigly does

That is al

[CaptYossarian]

4. Losing 1,191 points in one day.

In the early 80's, a well known economist said the Dow would never hit 2,000 TOTAL points, period.

At least Trump's losses are greater than any other president in U.S. history. He's just "smart" enough to brag about that.

[OhZone]

5. Hahhahaa

He's the best at tanking the markets!

[Roland99]

6. #9 was under Bush and #10 was also Twitler

[DarthDem]

8. Stable genius

Interestingly, I think the best argument his non-MAGA supporters (i.e., the ones that only pretend to be irrational or look the other way) have advanced for Mr. Trump's reelection is the economy. Hmm.

[central scrutinizer]

9. A little misleading

Percent drops would be a more valid measurement. But MAGAts have a poor understanding of math (they believe acres and cows vote).

[PoindexterOglethorpe]

10. Bingo.

The largest percentage drop ever in the Dow was 22.61%. 508 points.

People need to stop freaking out here. And, if you have some spare money, look at this as a buying opportunity.

[George II]

11. Yes, you're right. That's actually what I was saying when trump was bragging about his....

...."record" increases. Obama's increases were bigger percentage-wise.

I remember when the DJIA first hit 1,000 all the way back in 1972. A 20 point drop or increase was big stuff back then.

[mcar]

13. "I alone can fix it"

[Just_Vote_Dem]

14. "But those are the BEST drops!"

[spanone]

16. he's an overachiever

and a fucking moron.

the republicans are awfully damned quiet

complicit motherhumpers

You'd think this would be the last straw

[kimbutgar]

17. Him and his Reich wing media will somehow blame the Democratic Party for the drop

And the trained brainwashed seals will flap their flippers in unison.

[wishstar]

27. He said that stocks will go up again after he's re-elected

He claimed that Dems Pelosi and Schumer are to blame for ramping up the panic over virus plus markets are fearful of Dem winning in November. So at his rally today he will scream and yell about how evil Dems ruined the most beautiful stock market in history.

[gopiscrap]

18. wow

so much for being good for business trump's a joke

[Gore1FL]

19. It's much worse than that. Here is a list of the top (bottom?) 20

1 2020-02-27 25,766.64 -1,190.95 -4.42 Trump
2 2018-02-05 24,345.75 ?1,175.21 ?4.60 Trump
3 2018-02-08 23,860.46 ?1,032.89 ?4.15 Trump
4 2020-02-24 27,960.80 ?1,031.61 ?3.56 Trump
5 2020-02-25 27,081.36 ?879.44 ?3.15 Trump
6 2018-10-10 25,598.74 ?831.83 ?3.15 Trump
7 2019-08-14 25,479.42 ?800.49 ?3.05 Trump
8 2018-12-04 25,027.07 ?799.36 ?3.10 Trump
9 2008-09-29 10,365.45 ?777.68 ?6.98 G.W. Bush
10 2019-08-05 25,717.74 ?767.27 ?2.90 Trump
11 2008-10-15 8,577.91 ?733.08 ?7.87 G.W. Bush
12 2018-03-22 23,957.89 ?724.42 ?2.93 Trump
13 2001-09-17 8,920.70 ?684.81 ?7.13 G.W. Bush
14 2008-12-01 8,149.09 ?679.95 ?7.70 G.W. Bush
15 2008-10-09 8,579.19 ?678.92 ?7.33 G.W. Bush
16 2018-02-02 25,520.96 ?665.75 ?2.54 Trump
17 2019-01-03 22,686.22 ?660.02 ?2.83 Trump
18 2018-12-24 21,792.20 ?653.17 ?2.91 Trump
19 2011-08-08 10,809.85 ?634.76 ?5.55 Obama
20 2019-08-23 25,628.90 -623.34 -2.37 Trump



https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average

[True Blue American]

28. Plus the highest

Deficit in History! That has been feeding the market, along with all the buy backs from the billionaire tax cut. Republican Senators made billions off that tax cut wile upper middle class got a dribble.

[onenote]

36. The 20 twenty biggest gains in points also skew heavily towards Republican administrations

The market has been volatile for a bunch of years. Big swings up and down. But in terms of percentage changes, the top gains and the top declines measured in points more often than not don't make the list of the top gains or declines measured in percentage terms.

[warmfeet]

20. Not to defend the orange asshole but,

it's a sign of the times. Volatility. Get used to it.

[ck4829]

25. Or even more likely, it's not a sign at all. The Dow is meaningless and the volatility discredits it

Historically, the Dow isn’t much of a barometer, either. The famous “industrials” index is actually a semi-arbitrary basket of 30 stocks that includes companies as varied as tech titan Apple to Wall Street goliath Goldman Sachs, and it changes every few years. Only one company — General Electric — has remained on the list. (Now owned by S&P, the Dow debuted on May 26, 1896 in the pages of “The Wall Street Journal”).

https://www.forbes.com/sites/elizabethharris/2017/01/26/dow-20000-the-strange-psychology-of-market-milestones/#396223fc3a30

You can tell about as much about the economy from the Dow as you can tell about it from cutting open a dead chicken and looking at the guts or feeling the bumps on an economist's head.

[unblock]

30. Well this is certainly overstating the point

The djia is clearly an intellectually indefensible metric. Worse than focusing on just 30 stocks, they just add up the nominal stock prices (and divide by a number they can adjust to handle stock splits and substitutions),

Simply adding the nominal stock prices effectively treats a $400 stock as 10 times more important than a $40 stock. There's no merit to that at all, because stock price is a function of how many shares the company issues, which is a rather arbitrary decision.

That said, the djia, in practice, happens to correlate rather well with much more sensible metrics like the s&p 500.

Caring about biggest point drop is silly, but all measures of the market have gone down a lot in the last few days.

[ck4829]

31. I love exaggerating

The point is overstated... but the point is there.

Caring about the biggest drop is silly, but then so would caring about the biggest gain.

[unblock]

32. I'll tell you a million times to stop exaggerating!

[mahatmakanejeeves]

45. My head literally exploded when I read that. NT

[unblock]

49. i hate when that happens!

[LiberalFighter]

22. Here you go.

Link to tweet

?s=20

[Roland99]

24. And it's the fastest drop into correction territory. Ever

Trump has the two fastest drops into correction territory now

[GeorgeGist]

23. WINNING

so much.

[ProfessorGAC]

29. I Think We Need To See Percentages

A 100 point drop, when the Dow was 900 is way worse than a 1200 point drop from 28k.
I'm sure these drops will still be notable, but not sure it would be the 8 worst ever.
Not defending DOLTUS here, but context matters with stats.

[hangaleft]

34. I'm not sure of the exact quote, but this is very close

“There are lies, there are damned lies, and then there are statistics.” — Mark Twain

[hangaleft]

33. These stats are really, really, very, very, very eye opening!

(It’s not an official Trumpism without the exclamation point.)

[mahatmakanejeeves]

46. You forgot the crying steelworker. NT

[sarchasm]

37. As a percentage...

...we haven't reached the carnage from W's 2008 debacle, but out of the worst 20 days Trump has 14 of those, and as a daily point drop Trump is surely the king of that.

https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average

11 2008-10-15 8,577.91 ?733.08 ?7.87
14 2008-12-01 8,149.09 ?679.95 ?7.70
15 2008-10-09 8,579.19 ?678.92 ?7.33
13 2001-09-17 8,920.70 ?684.81 ?7.13
09 2008-09-29 10,365.45 ?777.68 ?6.98
19 2011-08-08 10,809.85 ?634.76 ?5.55
02 2018-02-05 24,345.75 ?1,175.21 ?4.60
01 2020-02-27 25,766.64 ?1,190.95 ?4.42
03 2018-02-08 23,860.46 ?1,032.89 ?4.15
04 2020-02-24 27,960.80 ?1,031.61 ?3.56
05 2020-02-25 27,081.36 ?879.44 ?3.15
06 2018-10-10 25,598.74 ?831.83 ?3.15
08 2018-12-04 25,027.07 ?799.36 ?3.10
07 2019-08-14 25,479.42 ?800.49 ?3.05
12 2018-03-22 23,957.89 ?724.42 ?2.93
18 2018-12-24 21,792.20 ?653.17 ?2.91
10 2019-08-05 25,717.74 ?767.27 ?2.90
17 2019-01-03 22,686.22 ?660.02 ?2.83
16 2018-02-02 25,520.96 ?665.75 ?2.54
20 2019-08-23 25,628.90 ?623.34 ?2.37

[JT45242]

40. Percentages a better tell

Thanks for posting the percentage drops. Since the Dow tends to go up historically at about 7 percent per year long term, the largest dollar value drops should always be within the last 10-13 years.

The fact that 14 of the biggest percentage drops are under Trump's watch is something that should be hammered home.

Also -- the absolute devastation that the Republican Bush administration did to pension funds, IRAs, 401k, 403b needs to be shouted to the mountain top. More deregulation will lead to a lot of retirees losing their savings and being destitute. Every (D) on the ballot is better for working class folks than any (R)!!!

It would be interesting to see the same for the S&P index of a wider variety of sticks.

[mathematic]

47. That's still the top point drops, only with the %s shown as well (and sorted by %)

These are the top % drops. The most recent ones are from 2008.


1 1987-10-19 1,738.74 ?508.00 ?22.61
2 1929-10-28 260.64 ?38.33 ?12.82
3 1929-10-29 230.07 ?30.57 ?11.73
4 1929-11-06 232.13 ?25.55 ?9.92
5 1899-12-18 58.27 ?5.57 ?8.72
6 1932-08-12 63.11 ?5.79 ?8.40
7 1907-03-14 76.23 ?6.89 ?8.29
8 1987-10-26 1,793.93 ?156.83 ?8.04
9 2008-10-15 8,577.91 ?733.08 ?7.87
10 1933-07-21 88.71 ?7.55 ?7.84
11 1937-10-18 125.73 ?10.57 ?7.75
12 2008-12-01 8,149.09 ?679.95 ?7.70
13 2008-10-09 8,579.19 ?678.92 ?7.33
14 1917-02-01 88.52 ?6.91 ?7.24
15 1997-10-27 7,161.14 ?554.26 ?7.18
16 1932-10-05 66.07 ?5.09 ?7.15
17 2001-09-17 8,920.70 ?684.81 ?7.13
18 1931-09-24 107.79 ?8.20 ?7.07
19 1933-07-20 96.26 ?7.32 ?7.07
20 1914-07-30 71.42 ?5.30 ?6.91

[sarchasm]

50. These are the real numbers...

...thanks for clarifying.

[dkhbrit]

39. Posting this doesn't help

You can't measure this by points dropped, you have to measure by % drop. By that measure the last 3 days don't make it into the top 20 for largest drops in history.

Can we be smarter please?

[redqueen]

41. +1

[Dios Mio]

42. Investors

I’m sure trump’s base is heavily invested.

[KPN]

43. So much winning!

[mahatmakanejeeves]

44. Well, yes, but

obviously when the DJIA is up around 29,000-something, you're going to have big point drops. What's the percentage drop, though? How do the drops in the DJIA rate on that scale?

For example, this was a huge drop in its day. Note that this is an evening edition of the Pittsburgh Press. They're reporting that day's results.



18,000,000 shares were traded. The average dropped 11 percent. That was about 33 points.



In 1987, 508 points represented a 22.6 percent drop.

[mahatmakanejeeves]

48. Did the 8 Largest Single-Day Stock Drops Occur Under Trump?

Did the 8 Largest Single-Day Stock Drops Occur Under Trump?

As is often the case with statistics, which ones you choose to consider makes a significant difference.

DAVID MIKKELSON
PUBLISHED 28 FEBRUARY 2020

Claim

The eight largest single-day drops in the Dow Jones Industrial Average have occurred under the administration of U.S. President Donald Trump.

Rating Mixture

What's True

The eight largest single-day net drops in the Dow Jones Industrial Average have indeed occurred under the administration of U.S. President Donald Trump.

What's False

None of the ten largest single-day percentage drops in the Dow has occurred under the administration of Trump.

{snip}

Biggest one-day percentage stock index losses

Date One-day % loss President
Oct. 19, 1987 22.6% Ronald Reagan
Oct. 28, 1929 12.8% Herbert Hoover
Oct. 29, 1929 11.7% Herbert Hoover
Nov. 6, 1929 9.9% Herbert Hoover
Dec. 18, 1899 8.7% William McKinley
Aug. 12, 1932 8.4% Herbert Hoover
March 14, 1907 8.3% Theodore Roosevelt
Oct. 26, 1987 8.0% Ronald Reagan
Oct. 15, 2008 7.9% George W. Bush
July 21, 1933 7.8% Franklin D. Roosevelt

(Sources: The Wall Street Journal’s Market Data and Yahoo! Finance’s downloadable Dow Jones data)

{snip}