Stocks Have Worst Day Since 1987 'Black Monday' Crash
- 4 years ago
Stocks Have Worst Day Since
1987 'Black Monday' Crash The S&P 500 ended down
nine and a half percent on Thursday. The drop is the most substantial
daily loss since the stock market crash in 1987. A brief rally from opening losses
followed the Fed announcement of a
$1.5 trillion loan injection for banks. But stocks continued their sell-off
shortly after the announcement. The massive loss means that
the S&P 500 joins the Dow
well into bear market territory. A bear market refers to a
20 percent loss or more from a recent peak. Economists point to
President Donald Trump's hazy plans
to alleviate financial turmoil due to the coronavirus
pandemic as fuel for the sell-off. Carl Tannenbaum, via 'The New York Times' According to analysts,
a bear market indicates a more than
80 percent chance of an economic recession.
1987 'Black Monday' Crash The S&P 500 ended down
nine and a half percent on Thursday. The drop is the most substantial
daily loss since the stock market crash in 1987. A brief rally from opening losses
followed the Fed announcement of a
$1.5 trillion loan injection for banks. But stocks continued their sell-off
shortly after the announcement. The massive loss means that
the S&P 500 joins the Dow
well into bear market territory. A bear market refers to a
20 percent loss or more from a recent peak. Economists point to
President Donald Trump's hazy plans
to alleviate financial turmoil due to the coronavirus
pandemic as fuel for the sell-off. Carl Tannenbaum, via 'The New York Times' According to analysts,
a bear market indicates a more than
80 percent chance of an economic recession.