This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression

[LiberalArkie]

It took the S&P 500 only 22 trading days to fall 30% from its record high reached on Feb. 19, making it the fastest drop of this magnitude in history, according to data from Bank of America Securities.

The second, third and fourth quickest 30% pullbacks all occurred during the Great Depression era in 1934, 1931 and 1929, respectively.

Investors continued to dump equities as they feared that the economic fallout from the coronavirus outpaced the actions from global central banks and governments.

“Do not believe that any equity market stabilization is a sign of an investable bottom in US stocks,” DataTrek Research co-founder Nick Colas said. “The next flush down could, in other words, be days rather than weeks away.”




Snip

https://www.cnbc.com/2020/03/23/this-was-the-fastest-30percent-stock-market-decline-ever.html

[dweller]

1. winning

no one will ever top fatnixon, ever
😡

✌🏼

[gibraltar72]

2. No confidence vote.

[PoindexterOglethorpe]

3. Keep in mind that

in 1929 there was barely radio. Not the 24/7 news cycle we have today.

[localroger]

4. They also didn't have computer automated trading. /nt

[Igel]

5. Or the idea that we'd have close to no economic activity,

trade would basically be suspended, and that millions would die.

On top of having paper-based assets lose a lot of value, so that collateral and margin calls became a problem.

At some point financial problems feed themselves, produce panic, and produce more financial problems.