“It’s a good deal more volatile than almost anything else you’ve seen,” said Cashin, who began his career at Thomson McKinnon in 1959. “It is unfortunately reminiscent of some of the volatility we saw in ’87,” he said Thursday on CNBC’s “Closing Bell.” Cashin, now one of six executive floor governors at the New York Stock Exchange, was referring to the volatile market that began on Oct. 19, 1987, in Asia before spreading to Europe and then the United Stateslater in the day. The Dow Jones industrial average fell more than 500 points — or 22 percent — in a single day. The volatility moved across time zones the following morning, crashing markets in Australia and New Zealand.
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