In the last six days, the U.S. stock market went from record-setting highs to a “correction,” caused by a drop of over 3,000 Dow points and a 10.5% drop overall.
NatAlliance Securities reports, “This would be only the second time in history that this has happened. The other? 1928.”
According to ZeroHedge, the only other time in history the Dow Jones went into a correction so fast following all-time high numbers was just before the start of the Great Depression.
The Financial Times is also reporting on this connection, writing, “Wall Street’s benchmark stock index is on track to stage its quickest correction since the Great Depression as concerns about the impact of the coronavirus on economic growth grip global markets.”
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