It was one of the scariest days Wall Street has ever seen. On February 5,
2018, the Dow Jones Industrial Average dropped nearly 1,200 points—the largest single-day point decline in stock market history. Still, it would’ve been worse. The Dow had fallen about 1,600 points before buyers charged back in to help erase some of the losses before the market closed. The damage wasn’t limited to domestic markets either. The incredible drop in U.S. equities caused a ripple effect that would impact markets around the world.
The sell-off wiped out many investors’ gains for the year, along with the retirement dreams of many who are close to retirement age. This whole situation reminded me of when I watched the dot-com implosion tear apart the markets in 2000 and again when I saw so many people’s fortunes eroded during the 2007–2009 stock market collapse.