As usual there was plenty to be worried about, beginning with the fact that the Dow had fallen 36 points on the prior Friday. The newspapers had made a big deal of this “worst one-day drop since 1929,” even though the comparison was absurd. A 36-point drop with the Dow at 990 was not the same thing as a 36-point drop with the Dow at 280, which is where it stood before the Crash.
