Making Cents: Nervous Now? It’s Been Worse

What’s the worst that can happen to the stock market? Well, no one knows. But the most extreme downturn in the last half a century was 22 years ago, after the first big oil price shock. Between January 1973 and September 1974, the Standard & Poor’s 500-stock index, for instance, which reflects the broad market, fell more than 40%. But 21 months later, it was back where it started.