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Stocks Have Worst Day Since 1987 'Black Monday' Crash

Video Credit: Wibbitz Top Stories - Duration: 01:09s - Published
Stocks Have Worst Day Since 1987 'Black Monday' Crash

Stocks Have Worst Day Since 1987 'Black Monday' Crash

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.


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