General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsToday Stock Market Dropped 4.42%, In 1987 the Stock Market Dropped. 22.6% in one day.
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
(51,021 posts)Our arm is still broken.
And wasn't it October of 1987?
LisaM
(27,839 posts)But I think it's correct that the worst drop ever, percentage-wise, was 1929.
Squinch
(51,021 posts)1987 was the largest single day percent drop.
Stuart G
(38,449 posts)I think the same will happen now, but I really don't know nothing...(my hero Sgt. Schultz, Hogan's Heros)
NewJeffCT
(56,829 posts)totaled about 25% - almost 13% one day and almost 12% the next day, then another 10% drop a week later
walkingman
(7,669 posts)not sure America will if Trump is re-elected.
Stuart G
(38,449 posts)well, as you say..."So be it."
MichMan
(11,977 posts)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
(12,197 posts)Squinch
(51,021 posts)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
(7,669 posts)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
(20,890 posts)and amazingly we didn't learn a thing and have tried Reaganimics for another 40 years
walkingman
(7,669 posts)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
(20,709 posts)Probably because math education is so bad in the US.
onenote
(42,768 posts)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
(15,751 posts)MichMan
(11,977 posts)Roland99
(53,342 posts)Stuart G
(38,449 posts)dewsgirl
(14,961 posts)Stuart G
(38,449 posts)It is the future.
Squinch
(51,021 posts)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
(14,961 posts)spooky3
(34,483 posts)10% loss in one week is terrible. Its not as bad as one day of 23% but this is a fairer comparison.
What annoys me is the euphemism correction. Its 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
(38,449 posts)..I don't know what. But I can imagine something far worse. I sure hope that doesn't happen.
Demovictory9
(32,475 posts)Bengus81
(6,933 posts)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
(35,326 posts)Why would you try to take that away from us
beachbumbob
(9,263 posts)uncharted territory with markets and potential pandemic and only in the early stages
lastlib
(23,308 posts)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
(17,865 posts)kimbutgar
(21,210 posts)I was on vacation the previous week and my first day back was black Monday. Ill never forget the stress of my coworkers and bosses those days after. It wasnt until Thursday someone asked me how my vacation was!
karynnj
(59,504 posts)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.