Top 8 Largest Dow Jones Drops in American History.

[onecaliberal]

Top 8 Largest Dow Jones Drops in American History.

1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18

[edhopper]

1. You have to do percent, not points

But he is still a joke.

[onecaliberal]

3. He is still at the helm of the 8 largest daily point drops in history.

[Patterson]

4. Point drops mean nothing; per cent drops mean everything.

[onecaliberal]

5. Explain how the largest point drops aren't the largest percentages.

[edhopper]

7. 1000 points from 29,000 is 3.4%

1000 points from a 10,000 Dow is 10%

The biggest single day percent drop in the Dow was 22% in 1987.

[onenote]

12. You are correct. If you look only at point drops, you need also to look at point increases

None of the top 8 Dow daily declines in points are in the top 20 in percentage terms. Similarly, while Trump has been president for 8 of the top 12 Dow daily gains in points, none of those are in the top 20 gain in percentage terms.

[Bengus81]

9. Ok...it's dropped over 18% in 15 days.

[edhopper]

10. This is a serious drop, no doubt.

And due to the unknowable effect this virus will have on the economy, it is a very fast drop.
But in 2008 the Dow dropped 40%. Will that happen now? Depends on what happens as the effect cascade, or don't.

[meadowlander]

2. Would be useful to tie to specific fuckery like the government shut-down, trade war,

Helsinki treason, etc.

[WyattKansas]

6. Even though it is bad...

It does destroy the Republican argument to privatize the Social Security Fund to the stock market and make cuts to benefits, since the stock market once again proves to not be a sure thing for all.

[USALiberal]

8. Wonder how many record gains he has? Nt

[edhopper]

11. this

[onenote]

13. These sorts of charts should be taken with a grain of salt

For example, it purports to show the change in the Dow from inauguration day until June 3 of the third year of Obama and Trump's first term. Why June 3? Because that was a low point in the Dow in 2011. And it doesn't get the numbers right. The gain during that period of Obama's first term was around 50 percent. At its highest point in February of Obama's fourth year in Office, the gain was around 63 percent. But if the data point for Trump also is set at the highest point during February of his fourth year, the gain jumps to more than 50 percent, not 20.8 percent.

The market is and has been volatile for some time now. Picking arbitrary points in time for comparisons really doesn't prove much. The market improved a lot during Obama's first term. It also improved during his second term, but by a smaller margin (around 20 percent). During Trump's presidency, the market has continued to improve, generally at an even faster rate than during Obama's second term. Where it ends up at the end of this week, next week, or a month from now? Who knows.

[edhopper]

14. Sure

It just shows that Trump isn't setting any records.

[onenote]

15. Absolutely.

At the end of the day, what will make the most difference with respect to the election will be how the economy has been doing in the few months leading up to November. Where things stood on June 3 2019 or even February 28, 2020 probably won't matter.

[edhopper]

16. Yes

but if the Coronavirus has a cascade effect as far as tangent sectors and manufacturing chains of supply, this could be a serious downturn.

[onenote]

17. That is the big issue. If layoffs in the most directly impacted industries

such as transportation (airlines) and hospitality (hotels, restaurants) result in reduced spending in other sectors, we could see a significant contraction in economic activity over the next few months.

And while we can't say for certain whether the outbreak will peak or whether an announced virus will stabilize the markets in the next couple of months, there is the global market factor -- what happens in Europe and Asia can have a definite impact on American businesses.

[edhopper]

18. exactly

And since the market is controlled by traders and funds who have to show short term gains and profits, they can't risk big losses, so they sell, sell, sell. Long term investors are a small minority.