Another Black Monday?

What really happened today on Wall Street

Friends,

First, a bit of personal history.

Two weeks before October 19, 1987, I warned publicly that “in two weeks, the stock market will lose 20 percent of its value.” Then, on October 19, 1987, the S&P 500 had the biggest one-day fall in its history — dropping 20 percent.

I was immediately deluged with letters and phone calls (no emails then) from people…