Today is the 20th anniversary of the stock market crash in 1987. How did Wall Street celebrate? By selling off in a huge way. The Dow 30 industrial stocks fell 366 points. Pessimistic comments from Caterpillar about the U.S. economy got the ball rolling - downhill.
Of course today's decline was just 2.6% verses the more than 22%. But it still hurts. To keep it in perspective since the 1987 crash the Dow is up 660%. Since mid-1982 the Dow is up 1,600%. Since the great crash in 1929 the Dow is up 5,300%.
Disclosure: at the time of this posting the author was long CAT.
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