It took stocks only six days to fall into correction, the fastest drop in history

[Yo_Mama_Been_Loggin]

It took the S&P 500 only six sessions to fall into correction territory, the fastest downfall in history.

The Dow and the S&P 500 each fell 4.4% on Thursday — the Dow lost a record 1,190.9 points — and each closed well in correction territory based on their recent record close. The major averages are on pace for their worst week since the financial crisis as anxiety over the coronavirus continued to drive investors away from equities.





The S&P 500?s swift drop marked the quickest 10% decline from an all-time high in the index's history, according to Deutsche Bank.

The speed of the decline over the past week even beats the Black Monday plunge in October 1987, where the peak was in August 1987, Torsten Slok, Deutsche Bank's chief economist said.

https://www.msn.com/en-us/money/markets/it-took-stocks-only-six-days-to-fall-into-correction-the-fastest-drop-in-history/ar-BB10ulZe?li=BBnb7Kz

Another first Trump can brag about

[Laura PourMeADrink]

1. I fucked up majorly in 2008...time to buy now! Heard Clorox good buy. I called my 401k guy, who

Hates trump, two years ago, crying. Move me away from stock. Been ok since then, just very modest growth. But don't have to fret over Dipshit manipulation and it's been worth it.

[obnoxiousdrunk]

2. 3M is a good buy too

They make face masks.

[Laura PourMeADrink]

7. Yes. And Netflix. Anything related to keeping unusually

clean and staying home

[dchill]

3. "Another first Trump can brag about"

That was my thought, too. Oh, the greatness!

[former9thward]

4. Nonsense

The biggest drop was 10-19-1987 22%

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

[greenjar_01]

8. The OP is referring to the S&P 500 and specifies a drop "from its peak"

While the S&P500 did fall 20% on Black Monday, it fell not from its peak, which it hit in late August 1987.

Before you object to a point, you should probably read it carefully. The key phrase is "quickest 10% decline from an all-time high in the index's history." The 20% decline of the S&P500 on Black Monday 1987 wouldn't qualify, since that decline was not from its (at the time) all time high. Indeed, the decline from the all time high is just as noted in the chart, about 40 days between late August 1987 and early October 1987.

[Apollo Zeus]

5. Hmmm...so the market should be up 13.7% four months from now?

Many expect the market to slide further on Friday since:
- more bad news is expected over the weekend,
- anecdotes about US cases are circulating and may be confirmed, and
- many fund managers have to rebalance their allocations at the end of the month and many will need more liquidity due to the drop

I expected the market to fall harder a month ago. It is as if there are only two modes in America -- denial or panic.

[uponit7771]

6. Wow something's happening I hope it's not structural