Remember this article from October 20, 1987 , almost 18 years ago from The Philadelphia Inquirer:
NEW YORK — Panic gripped Wall Street yesterday during a chaotic day of selling that left the Dow Jones industrial average an estimated 508.32 points lower, investors $503 billion poorer and experts and individuals alike wondering if the worst was over – or just beginning.
Investors and traders watched in disbelief and horror as stock prices went into the type of free fall not seen since the Great Depression.
In a little more than two weeks, the stock market has lost everything it gained since the beginning of the year, and more. The closely watched Dow Jones index of 30 leading industrial companies fell to 1,738.41 points, a decline of 22.6 percent from Friday. On Oct. 28, 1929, the start of the Great Depression, the Dow lost 38.33 points, or 12.9 percent of its value. The worst percentage loss for the Dow occurred on Dec. 12, 1914, when the average lost 24.4 percent of its value, or 17.42 points.
The Dow has lost nearly 1,000 points since its peak of 2,722.42 on Aug. 25. Yesterday, it closed at its lowest point since April 6, 1986, when the average was at 1,735.51.
And now today from NBC News:
In a historic day of turbulence, the stock market whipped between nauseating drops and roaring comebacks on Monday before closing with another big loss.
Seized by fears that the Chinese economy is not as healthy as it appeared to be, investors sold with abandon at the opening bell and sent the Dow Jones industrial average down almost 1,100 points, the biggest decline on record in a trading day.
Then the market staged a dramatic comeback and almost erased its losses, coming within about 115 points of break-even. By late afternoon, stocks were sinking again — and the Dow closed down 588 points, or 3.6 percent, at 15,871.