We just hit another milestone. The market has now fallen farther faster than it did during the Great Crash of 1929-1932.
It has been 513 calendar days since the stock market peaked on Oct. 9, 2007. Since then, the S.&P. 500 is down 56 per cent and the Dow is off 53 per cent.
On Jan. 29, 1931 — the identical number of days after the 1929 market peak — the S.&P. 500 was down 49 per cent and the Dow was down 56 per cent. The 1929 crash got off to a much faster start, but we have now more or less caught up.
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