Stocks Have Worst Day Since <br />1987 'Black Monday' Crash The S&P 500 ended down <br />nine and a half percent on Thursday. The drop is the most substantial <br />daily loss since the stock market crash in 1987. A brief rally from opening losses <br />followed the Fed announcement of a <br />$1.5 trillion loan injection for banks. But stocks continued their sell-off<br />shortly after the announcement. The massive loss means that <br />the S&P 500 joins the Dow<br />well into bear market territory. A bear market refers to a <br />20 percent loss or more from a recent peak. Economists point to <br />President Donald Trump's hazy plans <br />to alleviate financial turmoil due to the coronavirus <br />pandemic as fuel for the sell-off. Carl Tannenbaum, via 'The New York Times' According to analysts, <br />a bear market indicates a more than <br />80 percent chance of an economic recession.
