Veteran trader reflects on past market crashes and questions if current turmoil is another crash.

From Yahoo Finance: 2025-04-07 11:51:00

On October 19, 1987, Stephen Guilfoyle worked through the infamous Black Monday, where the Dow Jones lost 22.6%. Trading volume tripled, lasting until midnight. Worldwide losses totaled $1.71 trillion, sparking fears of economic instability.

Guilfoyle, reflecting on past market crashes, including the Covid Crash of 2020, ponders if the current market turmoil is another crash. The S&P 500 lost over $5.4 trillion last week, with global stocks down $9.5 trillion. Experts anticipate support amid the historic selloff as earnings season approaches.

With stocks in turmoil, Guilfoyle questions if companies will provide forward-looking guidance in the current uncertain climate. Market whiplash continues, with the Dow down nearly 2%. Bill Ackman calls for a 90-day tariff pause, as futures open poorly, reminiscent of the 1987 crash.

Read more: Veteran trader reminds investors of the market crashes through history