By Thursday’s close, the S&P 500 dropped 9.5%, or 260.62 points, in its largest percentage decline since the Black Monday crash of October 19, 1987. The blue-chip index slid more than 20% in total from its recent closing high from mid-February, sending it into a bear market.
The Dow’s 9.99% decline Thursday was also the biggest since 1987, and constituted a drop of 2,352.6 points.
So, today was the worst day for the US financial markets in 33 years.
And, if you thought that was bad, take a look at Canada:
The S&P/TSX Composite Index fell 12 per cent Thursday, the biggest one day drop since May 1940, according to data compiled by Bloomberg. Trading was halted earlier in the day amid dramatic selling at the opening. The nation’s benchmark slumped to its lowest since February 2016 at the close.
The last time the Canadian stock market crashed so spectacularly, Hitler's armies were marching through and conquering the Western part of Europe.