1. Wall Street Has Its Worst Day Since 1987

    Wall Street Has Its Worst Day Since 1987

    The escalating coronavirus emergency Thursday sent stocks to their worst losses since the Black Monday crash of 1987, extending a sell-off that has now wiped out most of Wall Street’s big run-up since President Donald Trump’s election.

    The S&P 500 plummeted 9.5%, for a total drop of 26.7% from its all-time high, set just last month. That puts it way past the 20% threshold to make this a bear market, snapping an unprecedented, nearly 11-year bull-market run. The Dow Jones Industrial Average sank 10% for its worst day since a nearly 23% drop on Oct. 19, 1987.

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    1. The news just continues to get worse, and the travel ban puts an exclamation point on the weakness we're going to see in global GDP and, in turn, the U.S..
    2. This is bad. The worst and fastest stock market correction in our career.
    3. What markets are waiting for are efforts to contain the virus in a very aggressive way, ways we've seen in other countries.
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