It's no coincidence that after the ugliest tax bill in history on top of a year-long market bubble that saw the Dow gain 35% in 15 months that the law of averages would finally kick in in a big, big way.
It was the scariest day on Wall Street in years.
Stocks went into free fall on Monday, and the Dow plunged almost 1,600 points -- easily the biggest point decline in history during a trading day.
Buyers charged back in and limited the damage, but at the closing bell the Dow was still down 1,175 points, by far its worst closing point decline on record.
The drop amounted to 4.6% -- nowhere close to the destruction on Black Monday in 1987 or the financial crisis of 2008. But for investors lulled to sleep by the steady upward climb since Election Day, it was alarming.
The White House said through a spokesman that "markets do fluctuate in the short term," but it stressed that the fundamentals of the economy are strong.
Now, where have we heard that phrase before?
Oh, right. The 30 seconds where John McCain lost the 2008 election.
A Republican giving a speech about how good the economy is while the Dow loses several percentage points while that Republican is talking.
Why, that happened to Trump today. As he spoke here in Cincinnati, the Dow lost nearly 600 points. He was oblivious to it too.
You can bet voters weren't oblivious, either. Why, this all feels very familiar to ten years ago, something I've been warning readers about for some time now.
The Dow has lost 1,700 points in two days, erasing all 2018 gains so far. And America is realizing that the guy in charge of fixing this mess is Donald Trump.
Here we go. Things get very, very bad from here.
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