Dow Braces for One-Day 1,000 Drop, as Markets Plunge - ExxonMobil Corp (NYSE:XOM) - 24/7 Wall St.: "The DJIA has a tradition of plunging on bad news. It sold off 7.9% on October 15, 2008, a single day during the financial crisis in 2008. More than once during that panic, it dropped more than 7%. Nearly as recently, on October 19, 1987, the DJIA dropped 22.6%. The cause was not extraordinary. The economy was in recession and investors rushed for the exits once it became clear that day’s trading would be terrible."
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