416 points! Holy Moly!! That's a big ***drop***, due to a glitch, isn't it?
In a "416 point" drop, the number "416" whether historically high or low is irrelevant.
The relevant number is what % of the market total before the drop does "416" points represent.
I think it is something in the neighborhood of 3 - 3.3% Even 1 "500 point" drop represents 4%.
I think either number will be seen as a "correction" to the climb the DOW has been making for many months. In the past six months alone, one portfolio of balanced fund invstments has risen more than 8% and twice than on the year. And, I am sure that not all of them will be included in the current "correction".
The Dow will rally right back tomorrow.