Today Stock Market Dropped 4.42%, In 1987 the Stock Market Dropped. 22.6% in one day.

[Stuart G]

Yes, today's drop totaled more points than 1988, but please put things into perspective. Also, the market was at a record high for the last couple of weeks. Will it get worse? Maybe, probably. It is the future. I don't know, if you do, let me know. That drop was on October 19, 1987

https://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4GGNI_enUS494US495&q=1988+stock+market+crash#spf=1582842077094

From the link above:

"Black Monday is the name commonly attached to the large stock market crash of October 19, 1987. In the United States, the Dow Jones Industrial Average (DJIA) fell exactly 508 points (22.6%). This was the largest one-day percentage drop in history. ... Worldwide losses are estimated at $1.7 trillion US dollars."

[Squinch]

1. OK. That's like saying a broken arm is bad, but not as bad as a beheading.

Our arm is still broken.

And wasn't it October of 1987?

[LisaM]

6. No, there was another crash in 1987

But I think it's correct that the worst drop ever, percentage-wise, was 1929.

[Squinch]

10. No, I'm wrong. You are right. The 29 event went on for days and the total % was larger.

1987 was the largest single day percent drop.

[Stuart G]

11. Thank You for pointing that out. In 29, the real effect came later.

I think the same will happen now, but I really don't know nothing...(my hero Sgt. Schultz, Hogan's Heros)

[NewJeffCT]

12. Back to back days in 1929

totaled about 25% - almost 13% one day and almost 12% the next day, then another 10% drop a week later

[walkingman]

2. If this is what it takes to rid America of this piece of shit - so be it. The market will come back,

not sure America will if Trump is re-elected.

[Stuart G]

4. Yes, I think that the market will come back. If this helps to "rid America of this piece of shit"

well, as you say..."So be it."

[MichMan]

17. Not sure the millions who lose their jobs and homes would agree

Millions of people lost jobs, homes and a lifetime of retirement savings in the last recession. I wouldn't wish for a replay of 2008-2009 on anyone.

[we can do it]

18. Stock market drop isn't the same as sham housing market collapse.🙄

[Squinch]

32. A large and sustained stock market drop would cause the valuations of companies to

drop, causing layoffs, causing reduced spending on consumer goods and services, causing more layoffs, causing people - most of whom are one paycheck away from poverty - to not be able to pay their mortgages, causing housing market to drop.

Financial crises might start in different sectors of the economy, but if they're big enough, they make their way through all of them.

[walkingman]

21. Certainly hope nothing like that - if it is I fear we do not have the ability to come back like

before. The Fed should have been raising rates instead of listening to Trump. I think this is more about health implications than financials but they absolutely be tied together. Either way the market will come back and Trump will be history so I view it as something that was inevitable. Either now or after the election. The market cannot continue to go up forever. What goes up must come down.

[Johonny]

19. In 1988 we elected Bush to replace Reagan

and amazingly we didn't learn a thing and have tried Reaganimics for another 40 years

[walkingman]

22. Your right - I blame the last 40 years on Reagan and the continuation of his policies. Bush was a

low intelligence person that was controlled by the neocons and should be considered a war criminal. IMO, anyone that supports the GOP these days is either someone wealthy and looking to use the system to become even more wealthy or someone that is gullible and think they really do have a chance to become wealthy by supporting business over working people. Either way they have destroyed America and hope both rot in hell. Take that back - there is a place below hell and they belong there.

[DanTex]

3. Yeah, the media has an annoying habit of talking about points rather than percentages.

Probably because math education is so bad in the US.

[onenote]

20. They talk about points because people equate points with dollars

It's easier to understand if you compare two instances of market increases:

Let's say the market, at 29,000, has a 500 point increase. That's 1.7%

Compare that to the market, at 2900, having a 100 point increase. That's 3.5%

Most people, asked whether it was better to have a 1.7% increase represented by a 500 point gain or a 3.5% increase increase represented by only a 100 point gain, would choose the 1.7% (500 point) increase over the 3.5% (100 point) increase.

[empedocles]

25. DJIA points are more dramatic, up or down.

[MichMan]

27. People who dont understand math I guess

[Roland99]

5. It's still in the Top 20 for % loss for a week

[Stuart G]

8. Yes, this is bad. The virus is worse.

[dewsgirl]

7. I was in the 5th grade and remember my teacher freaking out.

[Stuart G]

9. I had gone bowling with a friend, and we both freked out. And nobody knows what will happen.

It is the future.

[Squinch]

14. I remember standing in Grand Central Station. At that time there was a huge ticker feed at the south

door archway leading out of the main concourse.

Hundreds of people were just standing and watching it. Some were crying, some looked like they were going to have heart attacks right then and there. And that was after the trading day was over. It was very disturbing.

[dewsgirl]

16. Yikes 😳

[spooky3]

13. But today's loss was on top of several days of big drops.

10% loss in one week is terrible. It’s not as bad as one day of 23% but this is a fairer comparison.

What annoys me is the euphemism “correction.” It’s a meaningless term. This 10% drop occurred because the corona virus could stall commerce widely and for a long time, in part because of the incompetence of this administration in ensuring the CDC was full staffed and well funded before the crisis.

[Stuart G]

15. Yes, the word "correction" is a bad word. This could be the start of something far worse.

..I don't know what. But I can imagine something far worse. I sure hope that doesn't happen.

[Demovictory9]

23. So no worries until a drop hits 22% again? 10% is huge

[Bengus81]

24. Today?? The DOW has dropped almost 4,000 points since Feb 12th

Looking at it one day isn't the way to do it--wish my TR Price account would ONLY drop my value because of today. But now...it's been dropping for over two weeks.

Do the math,it's dropped almost 15% in 15 days. Who cares if it's one day or a few days of trading sessions?

[lame54]

26. Trump owns the most tremendous drop in SM history...

Why would you try to take that away from us

[beachbumbob]

28. the stock drop in 1987 was not based on the same reasons we are seeing the market dropping today

uncharted territory with markets and potential pandemic and only in the early stages

[lastlib]

29. Here are the ten worst years for the S & P500 index:

1931 -43.84%
2008 -36.55%
1937 -35.34%
1974 -25.90%
1930 -25.12%
2002 -21.97%
1973 -14.31%
1941 -12.77%
2001 -11.85%
1940 -10.67%

and the ten best years:
1954 52.56%
1933 49.98%
1935 46.74%
1928 43.81%
1958 43.72%
1995 37.20%
1975 37.00%
1945 35.82%
1997 33.10%
1955 32.60%

[exboyfil]

30. Republican Presidents are bad for the stock market

[kimbutgar]

31. I worked for an investment banking firm in SF on an equity trading desk

I was on vacation the previous week and my first day back was black Monday. I’ll never forget the stress of my coworkers and bosses those days after. It wasn’t until Thursday someone asked me how my vacation was!

[karynnj]

33. I have the NYT for October 20, 1987 - one of the very few newspapers we saved

Not because of the economic news, but because our second daughter was born that day. The recovery from that decline was relatively fast - or it may be that I had other things to think about with a newborn and a 2 and a half year old.