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Absolute value. Not even close in percentage drops (see https://en.wikipedia.org/wiki/Black_Monday_(1987))

It's a great question, because point drops are not a very useful metric.

Yeah i expect this record to be shattered multiple times in my lifetime.

I hope [this point record] is shattered many times.

Otherwise, I've died young or the market hasn't grown much over my remaining ~40 years of life...

These days you can assume any number in a headline is as big as the editor could reasonably make it without violating too many technicalities.

absolute