[thansz]

This.

You have to take a look at percentage market moves. The markets have been moving up for a long time. A 1000 point drop when the market is at 26,000 is not the same as a 1000 point drop when the market is at 16,000.

[schoen]

The Dow 10K (let alone 20K) still takes getting used to for me -- I remember figures around 4000 in my childhood. ... at which point a 1000-point drop would have been seen as much more significant.

Edit: although apparently I'm remembering a slightly later era than I thought.