In Spite Of Bounce, This Is How Horrific The Plunge Could Get

from King World News
In spite today’s bounce, a 50-year market veteran warns just how violent things can get to the downside.
By Art Cashin Director of Floor Operations at UBS
October 17 (King World News) – “On this day (+2) in 1987 (that’s 27 years ago, if you are burdened with a graduate degree), the NYSE had one of its most dramatic trading days in its 220 year history.
It suffered its largest single day percentage loss (22%) and its largest one day point loss up until that day (508 points). No one who was on the floor that day will ever forget it. While it was an unforgettable single day, there were months of events that went into its making.
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