Today is the anniversary of the stock market crash of 1987.
If you’re not familiar with what happened, what you need to know is that in one trading day the NYSE ultimately plummeted 22% and the Dow lost 508 points.
If that doesn’t freak you out a little bit, this CNN broadcast from that day might. The anchor begins saying:
“There’s only one word to describe what’s happening and that is panic.”
When we start the broadcast the Dow has fallen 271 points, and as the report is updated throughout the day it the carnage just gets uglier and ugly until the Dow loses all the gains it had made for the year and then some.
Check the video out below (and look out for loud Dobbs at the end):