A Few Thoughts on Wall Street Plunges in History
Historically, point drops in Dow Jones Industrial Average are hard to compare. In pure numbers, we’ve had the four biggest point drops in history over the last month, with the biggest happening today, a drop of 2,997 points. But they haven’t been as devastating as, say, Black Friday in 1987, which was only a drop of 508 points. Apples to oranges.
It’s far easier to compare percentages. Black Friday’s percentage drop was 22.61%. Staggering. Nearly a quarter of Wall Street wealth, gone in a day. That was the single biggest percentage drop in history.