We witnessed something truly historic happen on Friday.
The Dow Jones Industrial Average plummeted 530 points, and that followed a 358 point crash on Thursday. When you add those two days together, the total two day stock market crash that we just witnessed comes to a grand total of 888 points, which is larger than any one day stock market crash in U.S. history. It is also interesting to note that this 888 point crash comes in the 8th month of our calendar. Perhaps that is just a coincidence, and perhaps it is not. It just struck me as being noteworthy. This is the first time that the Dow has dropped by more than 300 points on two consecutive days since November 2008, and we all remember what was happening back then. Overall, this was the worst week for the Dow in four years, and there have only been five other months throughout history when the Dow has fallen by more than a thousand points (the most recent being October 2008). Of course we still have six more trading days left in August, so there is plenty of time remaining for even more carnage.