This certainly doesn’t soften the blow, but the media is reporting non-stop that the decline of the Dow Jones Industrial Average today suffered it’s “largest drop in history.” This is only true in terms of the point decline, of 777 points to 10,365, or about 7 percent. On October 28 and 29 of 1929 it dropped 13 and 12 percent. On “Black Monday” in 1987 it dropped 8 percent.
On the other hand, it’ll probably get worse.
