, Columnist
A Hellish Week for Markets Isn't Over Yet
History suggests there’s worse to come before stocks recover.
The omens have been piling up.
Photographer: Krisztian Bocsi/Bloomberg
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To think in narratives is to be human. We like telling stories, and they help us understand the world. It is my job on a day like this, when the U.S. stock market has just suffered its biggest one-day fall since the Black Monday crash of October 1987, to stitch it all together into an appealing narrative.