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Dow down 1175 points today, the biggest one day drop in history, far surpassing black Monday that triggered the recession in 1987. Yikes.
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News outlets need to stop talking about the drop in points and start talking about the percent change. Should also mention that the stock market is measured on the results of the S&P 500, which is the broader of the two indexes. A 7% drop (in the S&P 500) from the previous sessions closing price, would trigger a trading halt. Subsequent drops of 13% and 20%, in same day session, would trigger additional halts. At 20%, trading would cease for the day.
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