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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who wrote (843)7/11/1997 12:10:00 AM
From: Alan Whirlwind   of 42834
 
Truman,
I have in my hands the St. Paul Pioneer Press Dispatch from October 20th, 1987. Its headline reads: Market Plunges 508-point dive dwarfs Crash of '29--Selling panic hits foreign exchanges. Mere Anarchy loosed upon the world indeed.

But was the drop precipitated by the story under the fold? U.S. retaliates against Iran: Warships sink 2 oil platforms in Persian Gulf. You see, Iran wasn't being very careful about where they were tossing their Silkworm missiles. Brinker's sell, if it comes in this century, will coincide with either a missile incident forcing the President's hand and/or a major oil problem IMHO. Back then the market lost 36% of its value in seven short weeks, erasing 503 billion dollars from the float in one day alone.

How much would a 36% drop wipe out today?
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